Nama and Irish Water!

renegademaster

this morn the Irish people were informed by way of an OIreachtas Finance Committee meeting that NAMA has sold €17.6bn worth of assets, and that they have €14bn worth of assets left to sell, but the chief executive of the largest state owned property portfolio on the planet couldn't tell Stephen Donnelly how much they paid for the assets they've sold so far and instead commented how the only figures they're bothered about in NAMA is how much was sold and how much is left to sell!!

When questioned by Donnelly the CE stated that they gathered a rather large amount of info for the meeting and that Donnelly will have to wait to hear back from him after the meeting. as Donnelly quite rightly pointed out, the CE should have known the single most important figure, as far as the Irish people and the committee charged with the responsibility of holding them to account are concerned, off the top of his head. watch the 10 minute questioning here, it really is breathtaking how stupid those involved in NAMA think we are. :mad:

https://www.facebook.com/video.php?v=889482467758436

Then we read about how IW are being considered for questioning at a Public Accounts Committee meeting and it has suddenly received unsolicited legal advice that it cannot question Irish Water boss John Tierney. How did this specific legal advice suddenly fall out of the sky when nobody at the PAC had sought any advice on the matter.

http://www.thejournal.ie/pac-legal-advice-irish-water-1741730-Oct2014/

The hundreds of thousands of Irish people who are currently involved in the growing IW protests across the country are going to be very busy going after all these ridiculous setups designed purposely to protect and enrich the well connected/vulture capitalists/failed developers while the majority of the 4,500,000 of us can go and have a $hite for ourselves, and pay twice to flush it, cos that's just how the system works. well not anymore!! :pac::pac:

super_furry

I like how the bigger font and red lettering really makes this post pop.

Dyr

I walked past donnelly there yesterday. Sharp Dresser

How Soon Is Now

Ive never been so sick of water at this stage in all my life.....

renegademaster

How Soon Is Now wrote: »

Ive never been so sick of water at this stage in all my life.....

i've never been so sick of corruption of everything, in all my life! :mad:

How Soon Is Now

renegademaster wrote: »

i've never been so sick of corruption of everything, in all my life! :mad:

You know what's bound to fix it!

Thousands of people standing in the street at the one time!

We be back to worrying about weather to order pizza or Chinese for dinner again in no time!

Canis Lupus

How Soon Is Now wrote: »

You know what's bound to fix it!

More coloured text?

How Soon Is Now

Canis Lupus wrote: »

More coloured text?

More coloured text for some minuture American flags for others!

renegademaster

How Soon Is Now wrote: »

You know what's bound to fix it!

Thousands of people standing in the street at the one time!

We be back to worrying about weather to order pizza or Chinese for dinner again in no time!

I wouldn't be so sure, people are fed up of this $hit and are finally willing to do something about it. thousands of people standing on the street at the one time as you put it has rattled the government and it's cosy cartel so much that they're coming apart at the seems while going all comical ali on very serious issues unfairly effecting the majority of Irish people.

protests regarding IW are working perfectly so far and they're only just warming up

How Soon Is Now

renegademaster wrote: »

I wouldn't be so sure, people are fed up of this $hit and are finally willing to do something about it. thousands of people standing on the street at the one time as you put it has rattled the government and it's cosy cartel so much that they're coming apart at the seems while going all comical ali on very serious issues unfairly effecting the majority of Irish people.

protests regarding IW are working perfectly so far and they're only just warming up

Yep I'd say there ****ting themselves alright!

Actually I picture it more as there laughing at all these people standing out in cold like dopes while there living it up in luxury nice and warm.

Long story short where paying for our water weather we want to or not.

Graham

IW protesting must be getting to the end of it's lifecycle, better start pushing the NAMA bandwagon again quickly. God forbid we end up with dozens of pseudo-proessional protestors with nothing left to protest about.

Duiske

renegademaster wrote: »

while the majority of the 4,500,000 of us can go and have a $hite for ourselves, and pay twice to flush it, cos that's just how the system works. well not anymore!! :pac::pac:

Actually, if you believe some people, you will tecnically be paying 3 times to get rid of that turd. Once through your taxe's, then through your meter to fill up the cistern with water which you hope* will carry said turd away. And then a charge for waste when said turd is transported away.

(*Floaters. Could take multiple flushs, and end up costing the more gaseous of us a small fortune.)

BoJack Horseman

Graham wrote: »

God forbid we end up with dozens of pseudo-proessional protestors with nothing left to protest about.

#UnemploymentCrisis !!

BoJack Horseman

Donnelly's question was a very obvious one.
I should have thought NAMA would have prepped an answer for the meeting.

Its hard to know if NAMA are making a profit.
Hopefully Donnelly will chase him up on it.

Also, Stephen Donnelly is the best TD since Wicklow was invented.

Son Of A Vidic

renegademaster wrote: »

the chief executive of the largest state owned property portfolio on the planet couldn't tell Stephen Donnelly how much they paid for the assets they've sold so far

I'm guessing they overpaid their big developer buddies on some properties. Hence the reason the clown couldn't say what they paid for them.

Graham

Corvus Maximus wrote: »

I'm guessing

Yup

Grayson

renegademaster wrote: »

i've never been so sick of corruption of everything, in all my life! :mad:

You forgot Fianna fail really fast

Son Of A Vidic

Graham wrote: »

Yup

Well done you, but I don't think stars are given out around here for understanding what guessing means

ArmaniJeanss

BoJack Horseman wrote: »

Donnelly's question was a very obvious one.
I sould have thought NAMA would have prepped an answer for the meeting.

Its hard to know if NAMA are making a profit.
Hopefully Donnelly will chase him up on it.

Also, Stephen Donnelly is the best TD since Wicklow was invented.

Its a bit like an estate agent who wouldn't be particularly bothered how much you paid for the house originally or whether you are in negative equity - all you've tasked them with is selling on the house for the biggest amount possible.
So doesn't seem a big issue to me.

renegademaster

Grayson wrote: »

You forgot Fianna fail really fast

when i started a thread about NAMA I didn't think I had to remind people that fianna fail created it

renegademaster

ArmaniJeanss wrote: »

Its a bit like an estate agent who wouldn't be particularly bothered how much you paid for the house originally or whether you are in negative equity - all you've tasked them with is selling on the house for the biggest amount possible.
So doesn't seem a big issue to me.

but that's not what they're doing with the said properties. did you watch the video because if you did Donnelly explains how some of the properties/land were sold to investment funds that exist only to flip their investments in 12 - 24 months, being real careful not to state they're all dodgy but certainly leaving the doubt there that any of the sales were well thought out as far as the Irish taxpayer is concerned. one example was a property sold to an Australian group for €7mn and a year later that group flipped it for €17mn. couldn't the state have held out and got back a lot more money for the Irish taxpayers

SEPT 23 1989

You just have to accept the staggering level of corruption in this country will never change

mackg

renegademaster wrote: »

but that's not what they're doing with the said properties. did you watch the video because if you did Donnelly explains how some of the properties/land were sold to investment funds that exist only to flip their investments in 12 - 24 months, being real careful not to state they're all dodgy but certainly leaving the doubt there that any of the sales were well thought out as far as the Irish taxpayer is concerned. one example was a property sold to an Australian group for €7mn and a year later that group flipped it for €17mn. couldn't the state have held out and got back a lot more money for the Irish taxpayers

I was having a look at an article a minute ago that referenced this and the response from NAMA was it was sold for the best offer at the time and they couldn't have predicted the increased value down the line.

Fair enough, if they turned down the offer and it wasn't sold people would be complaining about that. Hindsight is 20/20 and all that.

kowloon

TLDR

Generic Dreadhead

How Soon Is Now wrote: »

More coloured text for some minuture American flags for others!

:pac::pac::pac::pac::pac:

https://www.youtube.com/watch?v=5R7JmZ1q310

smash

NAMA is a complete scam of a company. Everyone just hears about 'big bad developers' but here's the reality:

NAMA took on bad loans. To balance it out they took good loans that developers were actually repaying. They then foreclosed on the good loans stating that they wanted them paid off in x amount of time. Developers said they couldn't do that and so NAMA just took their assets stating that they couldn't meet loan repayments, even though NAMA changed the terms of the loans.

If this happened in the housing market there'd be murder over it. Imagine taking out a 20yr mortgage, your house rises in value and you're meeting your repayments and then the bank saying "You have 30 days to pay off your mortgage or we're taking your house".

irish coldplayer

Corvus Maximus wrote: »

I'm guessing they overpaid their big developer buddies on some properties. Hence the reason the clown couldn't say what they paid for them.

Nama didnt purchase one single piece of property.
They also didnt buy anything off any developer.
They purchased the LOANS from the Banks held against those properties.
There were no sales there was no transfer of title, just the security held against properties.

I cant believe 6 years into this and people still dont get it

renegademaster

mackg wrote: »

I was having a look at an article a minute ago that referenced this and the response from NAMA was it was sold for the best offer at the time and they couldn't have predicted the increased value down the line.

Fair enough, if they turned down the offer and it wasn't sold people would be complaining about that. Hindsight is 20/20 and all that.

even though many of the groups buying up these properties for cents on the euro, flip their investments within 24 months, that and the fact that NAMA are employing some very smart people who know as well as the groups buying that the property market is going to be on the up again soon enough.

a fool could see the oportunity for NAMA to recoup some of the astronomical debts forced onto the Irish people

There's a BIG THREAD ON IRISH WATER here.
http://www.boards.ie/vbulletin/showthread.php?t=2057249879

I'm not merging them because at this stage the replies would be all oooooover the gaf!

OP, you're welcome to copy and paste you OP into the main thread if you wish. Maybe tone down the aul flashy writing (that's a request, not an order )