€10m paid for "advice" on NAMA etc

P2 tribune today…
An alternative : irisheconomy.ie/index.php/20 … mment-7037

Revolt!

To whom did they pay this? Who have been the advisors? Davys? PWC?

I think, by the end of the year, the government will be forceably removed from office. Revolt is a necessity at this stage.

We dont know to whom it was paid. thats secret. Silly you, just because it was your money you think you deserve to know? Pthaw…
We HEAR it was to Merrill Lynch and Dr P Bacon. Serious moolah that…

Well if it was Merrill Lynch, we truely are in the shitter IMHO.

I remember reading Liar’s Poker and Michael Lewis saying that ML were always the last ones to the party.
Even though that was the '80’s, I felt it was indicative of how they act. I remember Stan O’Neal defending their acquisition of a sub-prime mortgage lender (name escapes me) in 2006. I was listening to a town hall meeting in London where ML traders openly asked about the wisdom of this given the rumbling of the markets. His response was along the lines, you guys should know things will be fine.

They went tits up for a reason. :bulb:

Take it from me- it was ML. And we are in el crappero…
10m to ML and PB…or 10m to stop wee girls getting cancer…what would you do?

++++++ 1

To be honest I don’t care if they get €1billion worth of advise, if it is good advise and they act on it it is going to save us a hell of a lot more.

The problem is they’ll spend a fortune on it and still make a pig’s ear of it.

i think the question here is whether the government needed to spend as much as 10 mill. I think we are getting casual with big sums. Here’s my suggestion- get 3 economists, 3 financiers, 3 statisticians, 3 lawyers- all world class. Pay each of them 5,000 euros a day and lock them in a suite of rooms for one month. Put the entire resources of the treasury and state research institutions at their disposal. Cost is 12 times 5k times 30. Equals 1.8 mill. Ignore their conclusions at our peril. And then buy medicine for little girls.

Good points but just to note we (I mean the government) have been casual with big sums for a decade or so now thats why we are f***ed.

I can’t find this on the Tribune’s website. Can we have a link so we can see what the article actually says??

tribune.ie/article/2009/may/ … /?q=advice

and here most of it is

€10m. Couldn’t possibly be found cheaper anywhere no doubt.
The EU, the IMF, George Lee, Richard Bruton, David McWilliams, Joan Burton, Alan Ahearne all give their advice for free*.

Fudge it. Nice work if you can get it.

*-ish