I think a repository thread would be useful for readers who happen on the site or seek it out to learn about NAMA but don’t know where to start here because of the variety of discussions and the level of analysis. For people who want to know the details and read the opinions of ‘experts.’ And then draw their own conclusions.
It will save hours of irritating googling and confusion and will be an interesting archive and resource when this too has passed.
*The purpose of this thread is not to discuss articles but for members to post up links to articles, videos and audio that might be of use to readers who find their way here through the Facebook campaign, for example and want to to get some information about NAMA.
Maybe a short outline of what the article is about, the author and the perspective of the writer would help. Archives or current material welcome.
edit: Rather than having too many individual posts that might be hard to follow, I’m going to group them all together under post headings - So there’ll be a Liam Carroll and NAMA post, an Alan Ahearne post, a Builders’ Interest post and as articles etc arise, I’ll keep them together.
This thread should make it as easy as possible to read and access information. PM me if you want something included or simply post it and I’ll copy it to the relevant post.
Ivana Bacik, Justine McCarthy, Carl O’Brien and Paul Anthony McDermott on Today (with Myles Dungan) on Friday 14 August discussing NAMA and related issues.
The discussion considers the status of the property industry, ACC and Liam Carroll and the implications of recent developments in the courts, Ivana Bacik against NAMA, Media’s ‘gleeful’ pursuit of developers? Canadian bank interest in AIB,
[Legislation to establish the National Asset Management Agency (Nama) is “difficult” for many Green supporters and is “directly opposed” to the party’s “philosophical bent” finance spokesman Dan Boyle said today.
However, he warned that any alternatives to the Bill would inflict even “bigger damage on the country in the long-term”.
Speaking on RTÉ’s Morning Ireland Mr Boyle said the Government is not presenting the Nama legislation as a fait accompli but are taking a “consultative approach”.
Tom Parlon, of Construction Industry Federation re NAMA on the News at 1 today - for developers and builders, NAMA “is the only way forward” but they have concerns about the legislation and are in consultation with their builder and developer members.
Hubert Fitzpatrick of Homebuilder’s Association saying that rights of individuals are being affected because they have no choice whether their loans go into NAMA.
Wednesday, 19 August. Radio 1’s Drivetime presents a package on No to Nama demonstrations. Included are The Irish People’s Union represented by Dave Browne (lots of discussion on this site), and the United Alliance Against Cuts, Paul Sheils.
Short story. Back in 2005 the EU changed the rules for how banks can do their accounts. Part of the whole Basel II bandwagon. New rules were very pro cyclic. Banks could not make traditional provisions again the down turn and ( adding to the whole bubble insanity) could now lend at two or three times the traditional leverage ratios.
The net results is all around you.
The article says that go back to the pre 2005 rules and the stated rasion d’etre for NAMA, restoring the banking system to health, would disappear in a puff of creative accounting.
By far the cheapest solution (for the taxpayer) that I have heard of so far.