Could it be that some elements in FF have realised that NAMA is a mistake?
Realising that any party responsible for huge devaluations in property prices and increased taxation will be out of power for a generation, have they scuppered their own plans?
It just seems remarkably convenient that a foreign bank (Not us! We tried to fix things!) has waded in to the courts now, when it could obviously result in ‘real’ (M2M) valuations far below those hinted at by NAMA.
Is this nonsense or does it have some merit; that is, the ACC thing is a delibrate act to scupper NAMA, remove the blame from FF and save the taxpayer?
I was giving out about NAMA at work, the sane ones with a brain and backbone generally agreed with me. The MUFFY’s (Mortgaged up for forty years) were silent. I also criticised the Supreme courrt for helping Liam Carroll’s company avoid the reciever for a week.
I’m surprised one of the property brigade didn’t accuse me of jealousy.
Gedoudahere! I’ve been accosting my middle class software engineer 30-something colleagues about this NAMA business of late. Incredibly, most appear delighted with NAMA, in particular, and key, the devaluations they are knocking about. These are absolutely key voter-bait, so long as they remain somewhere below what people fear their…investments…have depreciated by.
Anyway - the reactions of homeowners - it’s like “Invasion of the Body Snatchers” around here. We’ve gone from unreal to surreal.
Does it really matter where you live if you talk code?
On topic, FF party members are too blinkered to see whats going on, and TDs are not used to having to think things out for themselves. There might be rumblings of discontent by a few that are concerned for their own political self preservation, but I’d imagine the vast majority will not rock the boat. Cowen is probably safe as Taoiseach for the foreseeable future too as there are no real leaders in the party… just a herd of teachers, barristers, gombeen men and their family members.
I also suspect there is more to ACCs actions that simply commercial logic, but I differ as to the source of that. Might not the powers that be in Euroland be more than happy to see ACC pursue its strategy so that we get a clearer picture of the market price ?
It seems clear that they have given the nod to support NAMA (pre Lisbon ) but maybe on closer examination they realised that Zanu-FF and the Irish banks are going to try to take the complete piss unless something can stop them.
The Irish and UK govs have held talks to keep their bankers in check- might the mainland Europeans be having a quiet word with Rabo the other way ? I for one won’t be opposing that …