China set precedent in 'NAMA' type bail-outs

ftalphaville.ft.com/blog/2009/07/31/64756/chinas-land-boom-a-datapoint/

Interesting articles. Basically land prices have collapsed in China since 2007 and the state through semi-state corporations are propping up land prices through large transactions. The goal of all this…to ensure the banks who lent the money in 2007 dont suffer huge write-downs based on market value. Do FF have the same power in Ireland as the CCP in China?

Just quoting from the article there. The comparisons are uncanny. Ireland an China are probably the most centralised governments in the world. Other Western countries would not be able to get away with this, their populations would not allow it.