Dáil webcast - NAMA Bill 2009

we are here to help the economy and people

One for the Glossary “Rational Prices”

Paying too little risks the economy, and “now is not the time for risks”.

he’s referenced benanke

putting out arguments to use LTEV

gonna use risk sharing using sub ordinated bonds

Look at John Moloney trying to look as if he can read :nin

5% at risk

facepalm

estimated NAMA will only have to achieve 10% uplift in current market values to break even

Ignoring funding costs and other expenses

borrowers personal assets will be taken by NAMA

Oh well, It was a nice little country we had once…

Amateurs all.

Shocking plan. Shocking presentation.

https://img4.imageshack.us/img4/9225/3907988497cb4cc75d48o.png

edit/ graph taken from gavinsblog

Blue line = current market value
Orange line = firesale
Red line = doom mongers/mischievous commentators

NAMA = blue line + 18%

bank guarantee will change but deposits will stay protected, details to be posted on DoF website I think

Oh they were praying to NAMA and the God of LTEV at the start of the session.

I get it now.

looks like he’s looking to make bankers more accountable in proposals to come “next year”

onto a summary of NAMA now and some spiels on why it’ll work to solve problems

wtf details on the nama bonds.! coupon, duration etc

Any mention of whether this cash goes in upfront or wha’…

getting digs in at oppositions ideas.

JOD hushing the opposition reaction

who in the name of god is going to buy the NAMA shite at 1.5%.

A quick note sent to me by a local Dublin broker suggests that all of this is in line with what was expected/leaked over the past months. No surprise, it looks as if the bankers wrote the legislation.