Leviathan - NAMA

Did anyone go to Leviathan in the Button Factory last night?

I was at the back hard to hear every word so excuse me if some of my quotes are not 100%

David McWilliams had to apologise for the Emergencies rendition of the Shaft theme, replacing “Shaft with” frank" “Whose got 40 properties across the lad… Frank”. I didn’t see a problem dunno why he apoligsed :smiling_imp:

I think Frank got egged at the end of the night and possibly Dan Boyle.

Frank Fahey was not a popular man. Nor should he be as he trotted out the lines and couldn’t get a grasp on the figures…“30% of NAMA invested in oversees… good for recovery.”

Frank could not get his head around Peter Mathews point that the DOF had applied using the 90’s Barclay’s Bank as the precedent applying the same logic as was applicable to the entire loan book of Irish Bank and not the NAMA amount. David McWilliams expressed during this point “this is wrecking my head … frank”

Dan “50 quid” Boyle and this is not personal was like a winging baby.
I kid you not and a little misplaced aggression to. Some choice quotes form Dan,

“I’m willing to be seduced by anything at this stage in my life”

“I don’t care if NAMA makes a profit or loss”

Dan seems aloof and troubled he neither seemed convinced by NAMA nor did he seemed convinced by the arguments against. Perhaps he’s had a visit from the Ghost of Christmas Future. Dan made the rookie mistake to relate things to way back to when he purchased his house on a council loan and he was only on 50 quid a week". There was some point lost in contain in this about people having always bought because of capital appreciation and thats why they took out such a big mortgage like. :confused: Not great at all.

Most of this was broadcast I believe online.
The body language of both Dan & Frank spoke volumes inc contrast to Peter Matthews & Margaret E.

If this had of been held in a more open public forum with a larger crowd there is no telling what might have happened.

So which one of ye threw the egg? :nin

An evening with Dan Boyle, Frank Fahey & McWilliams…

This country truly is populated by full on insane self flagellating masochists…

Only egg?

I do hope they were hard boiled!

I wonder though whether the egg hoofer used free range :angry:

Didn’t Frank “Do a Prescott” and lamp the guy?

https://www.youtube.com/watch?v=w_GLHsq_8KU

If Frank had of done that the place would have erupted like “little boy”

I wouldn’t have been able to contain myself.

Leviathan Indeed!
Commentary on last night’s event:
bankermathews.com/2009/10/29/leviathan-indeed/

€17.50 admission :open_mouth: Are there dancing girls, or is it just Frank Fahey?

An opportunity to see Frank shake his money maker - who could resist?

Hey OW, if I knew you were lurking at the back :wink: , you could have had a seat in the front row beside eggman

I asked Dan Boyle and Frank Fahy did they consider themselves experts to which there was a quick NO ( lest they be blamed later for the inevitable failure), so I then asked WHY ? were they not listening to the advise of experts. I got a very angry defence from Dan Boyle who listed some esteemed names, but then basically went on to say that we then made our own decision ( which is opposite to all expert advise )

On a more serious note ( from IPU site):-

Audio now up on site → leviathan.ie/2009/10/29/nama-sho … 81009nama/

The original JP Morgan compared politicians as being like taking a cab ride with a monkey. They will never listen and will lash out at any person who dares criticise them. Even when the end was in the face, they still would not yield.

Boy Racer…

The Thatcher quote in your signature was very prescient of the old bat, except she got the subject wrong - it appears its the problem with capitalism (also, or instead?)

No doubt this will be split off to the pub before long. Perhaps you might care expand on that claim and what Alain Badiou might say about the subject? or is he just another of those radical Marxists or Maoists who claim communism is good and that simply the execution was wrong.

[gvideo]https://video.google.com/videoplay?docid=7936414602517427743[/gvideo]

Leaving aside the essentially appropriative mechanism of capital in general, in the specific context of the Irish property boom, I meant that the cartel of banks/ developers and their political servants effectively ‘extracted with menaces’ sums way in excess of what their product might actually be worth, even according to ‘orthodox’ market metrics, by artificially accelerating the rate of price increase, and generating a false impression of supply, and thus scaring people with the possibility that they mightn’t get ‘on to the ladder’ along with alluring them with the false promise of perpetually accumulating value. And so, in this way, they acquired ‘other people’s money’ in order to fund their mad pyramid scheme.

Excellent piece by Peter Matthews on the back of the Tribune business section laying out the probabilities of NAMA losses in pretty unambiguous terms.

I loved the way he gave Alan Aherne a slap in the face by quoting him from last year on what he considered “best practice” in dealing with the banks!

Given the amount that Aherne was writing last year before taking Lenny’s 30 pieces of silver, it’s surprising that some jurno hasn’t compiled all his advise from last year and shown how he has done such a U-turn this year. Or did some one do it already and I missed it?