Economists say; Nationalise banks now!


#1

irishtimes.com/newspaper/opinion/2009/0417/1224244902514.html


#2

The early stages of opposition begin. Good.


#3

We desperately need leadership from the academic community on this issue.


#4

They also need backup but they will have to make a simple argument to achieve that. Communication is key. This is something the Government have backed away form. They seem to think the less communication the better. This is a massive advantage to any opposition as I believe NAMA will not stand up to open public sphere scrutiny and they know it!

NAMA Vs Full Nationalisation maybe 10/20 point comparative review.

I’d be happy to see a call for Full Nationalisation and a removal of Fianna Fail so it can be done properly otherwise the issue will have to be forced.


#5

NAMA is dead, it just died today, it’s garroting was accomplished by twenty stout troops who performed a swift mercy killing but, as a matter of interest, by what means and for what reasons would you propose to forcibly remove a democratically elected government?

(My advice is, save your energy for the battles that matter. This one has already been won.)


#6

thankfully somebody is questioning this

and whats happening in the Dail? all cowering in the shadow of mr bacon submitting to his obvious brilliance

mr bacon meanwhile is busily setting up new companies and preping his developer friends on how to position themselves

i wonder did these 20 academics form a limited company before issuing this statement?


#7

in fairness, many of these have been on the tv and radio for months saying essentially this.


#8

Any economists notable from their abscence as signotories to this article?

I can think of two off the top of my head. Morgan Kelly in UCD and David Jacobsen in DCU.


#9

why would they have? they are all public serveants …serviing the public


#10

Nice discussion on the merits of nationalisation here

notesonthefront.typepad.com/poli … .html#more


#11

indeed… serving the public not their own private vested interests

mr bacons first instinct was heres an earner


#12

Well why not email them and ask their views? Better yet, why not email all ff and gp tds and ask them to go agains this if they dare


#13

Can’t help feeling that an article like this would have been more effective 2 weeks ago. The course has already been set, I don’t see it changing.


#14

I’m not sure about this but can NAMA be defeated when the Finance Bill, arising from the budget, come before the Dail?


#15

Verbatim : the signatories have been saying this individually for months. Now they are saying it together. See the debate on irisheconomy.ie
I know you are not trying to knock it but a more productive way forward is to email each FF/GP td with the article and say “whos right”, the two brians or these folks


#16

I’m not knocking it. Good article, not really saying anything new but it’s set out very well. NAMA was well flagged in the papers though. If it had been published 2 weeks ago it could have cut the legs from below Bacon. A pork chop if you will.


#17

Alan Ahearne but then again hasn’t he gone over to the dark side :question:


#18

To be honest, when I saw this story, I thought it was huge and would be big news today. Imagine my surprise when I din’t hear anything about it on the RTE news this morning.Unless it was covered on Morning Ireland?
I think the reason these guys have just come out with this statement now, is because there is 20 of them and it would take a while to get agreement etc.
The fact is however, that 20 non vested interest economists all agree that NAMA is a bad idea. That should, in any normal country mean the end of NAMA. I think the fact that these guys came together, and felt stongly enough to issue this statement speaks volumes.


#19

Also it required the full bacon report to come out and be seen before any academic would comment. Full knowledge and all that sort of stuff. I suspect agreement would be much quicker than one thinks - read irisheconomy.ie
Morning Ireland led with this btw, at the 7-730 slot. Its also on Reuters and Bloomberg. and the FT


#20

Yeah, I meant to say that too, they would have had to examine the detail etc. before coming out with this. I am glad Morning Ireland led with this but it should have been on the news headlines too. How did they treat it? Who had they on to discuss it? I can’t bear those presenters on Morning Ireland, smug bastards the lot of em!