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NAMA, The whole 9 yards....

  • 12-10-2010 11:57pm
    #1
    DeVore
    Business & Finance Moderators, Entertainment Moderators Posts: 32,387 Mod ✭✭✭✭


    This is a clone of this thread here.

    This thread is open for public discussion of the topic and for public "right of reply" to the posts made on that thread.

    DeV.


Comments

  • #2
    Yitzhak Rabin
    Banned (with Prison Access) Posts: 7,225 ✭✭✭Yitzhak Rabin


    If someone could put this question to Mr. Gogarty I would appreciate it.

    What is your opinion on the recently exposed practice of major developers involved with Anglo Irish bank, including its former chairman Sean Fitzpatrick, transferring their assets to their spouses, in order to avoid repossession of said assets?

    Given that Anglo Irish Bank, and NAMA, are owned by the taxpayer, do you not agree that all of its transactions should be completely transparent. To that effect, the names, business interests and properties of those involved with the process should be freely available to the media, and the public.

    If you agree with the above, what do you specifically plan to do about it as one of our elected representatives?


  • #3
    thebaldsoprano
    Closed Accounts Posts: 827 ✭✭✭thebaldsoprano


    PaulGogartyTD wrote:
    1. That was the rate in place at the time. It would be open to legal challenge if changed retrospectively. Our costs are higher, so our wages should be higher, but that said, our wages are too high in terms of our competitiveness.

    That neatly sidesteps the issue of Neary's performance and whether he should have gotten a golden handshake at all. Neary said the banks were well capitalised. 46 billion Euro later, it's probably fair to ask if his performance should have first been investigated to see if such generous treatment at taxpayers' expense was deserved?


  • #4
    thebaldsoprano
    Closed Accounts Posts: 827 ✭✭✭thebaldsoprano


    Re the McWilliams article on the main thread, he wrote the following in this article a week before the bailout:
    David McWilliams wrote:
    The only option is to guarantee 100 per cent of all depositors/creditors in the Irish banking system. This guarantee does not extend to shareholders who will have to live with the losses they have suffered. However, it applies to everyone else.

    I'm assuming creditors includes bondholders. Then, in his latest article:
    David McWilliams wrote:
    Without comprehensive debt renegotiation — both personal and institutional — Ireland will not get out of this hole. The idea is called ‘co-responsibility’, where the debtor and the lender are both responsible for the debts they have jointly created.

    Funny how the story changes over time!


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