The real reason behind the NAMA investigation

realitykeeper

Billy86 wrote: »

Why, though?

The crisis in Greece was different to both Ireland and Iceland. In Greece, it was more to do with government spending, underdeveloped revenue collection procedures, and to a lesser extent the fact that they misrepresented the true state of their economy at the time they joined the single currency.

In Ireland and Iceland it was a banking crisis. Iceland let its banks fail but Ireland opted for bailouts just like the Greeks. The popular rhetoric is that Ireland is paying its creditors but the reality is that it is still a net borrower. Per head of population, Ireland is the most indebted country this world has ever seen.

By letting the banks fail, Iceland tackled the problem head on. By borrowing, Ireland took the soft option and is trying to solve a debt crisis by increasing debt. The folly of the Irish and the wisdom of Iceland will become clear when the next recession comes.

Zubeneschamali

realitykeeper wrote: »

Per head of population, Ireland is the most indebted country this world has ever seen.

Numbers?

Using govt debt per capita, you are wrong, Japan is a lot worse. And our figures are improving...

realitykeeper

realitykeeper wrote: »

The crisis in Greece was different to both Ireland and Iceland. In Greece, it was more to do with government spending, underdeveloped revenue collection procedures, and to a lesser extent the fact that they misrepresented the true state of their economy at the time they joined the single currency.

In Ireland and Iceland it was a banking crisis. Iceland let its banks fail but Ireland opted for bailouts just like the Greeks. The popular rhetoric is that Ireland is paying its creditors but the reality is that it is still a net borrower. Per head of population, Ireland is the most indebted country this world has ever seen.

By letting the banks fail, Iceland tackled the problem head on. By borrowing, Ireland took the soft option and is trying to solve a debt crisis by increasing debt. The folly of the Irish and the wisdom of Iceland will become clear when the next recession comes.

By what measure is this true?

Luxembourg takes the external debt trophy with > $3.5m debt per capita.
Japan's almost $100k per person also leads us on the most government debt per capita

realitykeeper

Zubeneschamali wrote: »

Numbers?

Using govt debt per capita, you are wrong, Japan is a lot worse. And our figures are improving...

According to this documentary, Ireland has more debt than anywhere else. Since it was made, Ireland`s debt has increased massively.
https://www.youtube.com/watch?v=AYVZKpH3pnM

Well the documentary doesn't reference its figures, and both sets of figures I've provided tell otherwise.

The single 'slide' is at https://youtu.be/AYVZKpH3pnM?t=291 (4:51 into the video)

Zubeneschamali

realitykeeper wrote: »

According to this documentary, Ireland has more debt than anywhere else. Since it was made, Ireland`s debt has increased massively.

So, the documentary is wrong, since we've given the actual figures above, and Ireland is not worst even today after the massive increase.

Grand, so.

Dob74

kbannon wrote:

1. Not even tried to answer. 2. If you don't offer a proper market based package then you get inferior candidates. Look at it whichever way you want but the bank leaders will need to get paid lots or they just won't do it. Similar argument could be made in the likes of a Irish Water. People didn't want market based salaries so we got Tierney. 3. What's your source? You still didn't respond about whether banks should take on risky loans. 4. The problem is not bad planning. The problem.is political interference within the planning process and planners being overruled by either the county manager or by politicians (and im nit tring to imply brow envelopes here). I don't believe any politician would turn down the opportunity to deliver some fancy development in their constituency. As for the councils developing large parcels of land, where does the money come from? There are council owned houses near me that are lying vacant because they have no money to do them up after the last tenant. So where will the millions or billions come from? The taxpayer? Sure many of them refuse to even pay for their water! And you also want us to lend to developers after saying how all lending was bad because it was going towards developers?

kbannon wrote:

1. Not even tried to answer. 2. If you don't offer a proper market based package then you get inferior candidates. Look at it whichever way you want but the bank leaders will need to get paid lots or they just won't do it. Similar argument could be made in the likes of a Irish Water. People didn't want market based salaries so we got Tierney. 3. What's your source? You still didn't respond about whether banks should take on risky loans. 4. The problem is not bad planning. The problem.is political interference within the planning process and planners being overruled by either the county manager or by politicians (and im nit tring to imply brow envelopes here). I don't believe any politician would turn down the opportunity to deliver some fancy development in their constituency. As for the councils developing large parcels of land, where does the money come from? There are council owned houses near me that are lying vacant because they have no money to do them up after the last tenant. So where will the millions or billions come from? The taxpayer? Sure many of them refuse to even pay for their water! And you also want us to lend to developers after saying how all lending was bad because it was going towards developers?

1. Whats to answer? With Two Large Banks If One Goes Bust The taxpayer will have to step in save it.
2. People should be paid for the job they do not the office they hold. The banks lost billions under the leadership of many who where rewarded. Reward success not failure.
3. Our biggest multi national makes cement. There is a serious lack of variety in the businesses in this country.
4. There is a difference between developing land and construction / building. The two get loomed together because they are closely related. Must builders can make 15% on construction tenders. Where must lost there shirt in recent times was buying land to develop it. If you need a short term loan to pay staff and materials while building a school, housing scheme no problem. To buy development land that's the neck of the problem. Land is to expensive because of the way planning done. 5 million for an arce in Longford is because there is no planning to speak of. Just ad hoc re zoning for the politically connected.

realitykeeper

Zubeneschamali wrote: »

So, the documentary is wrong, since we've given the actual figures above, and Ireland is not worst even today after the massive increase.

Grand, so.

Zubeneschamali in wonderland. Tell Alice I said Hi.