Builders don't like it … 80108.html

Could this be a case of “we’re not running it so we dont like it” or smoke and mirrors as an excuse to get bailed out sooner rather than later?


Quite frankly, the fact that the banks (and their shareholders) aren’t screaming and wailing from the pain of NAMA is a bit disconcerting to me. It means that I, as a taxpayer, am the sucker instead.

Same goes for these developers.


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They are hardly going to say that it is brilliant and that they can’t wait. If they got handed the deal of their dreams they would still moan because it sets the bargaining position from the start.
The very worst effect it can have upon them is none whatsoever and as it stands they will now have to deal with FF as their creditors, tough gig! What would they be saying if these loans had been sold to Eastern European debt collectors as some have suggested doing?

It’s a different angle entirely IMHO. You didn’t believe the newspapers or the developer-run property sections in the boom, so don’t start believing them now. This is pure propaganda, recognising that people are clear that the “developers” are no longer heroes, but enemies, they will simply allow human nature to say “well if the builders think it’s a bad thing, it must be alright, so let’s have NAMA”.