National Asset Management Agency Act 2009 -A Reference Guide

Insightful NAMA tome poses more complex questions - Thomas Molloy → independent.ie/business/insi … 45270.html

I suspect there was a lot more “insight” in the various threads here in the summer of 2009 when the bill was originally published. A lot of the scams we discussed at length have come to pass and the rest will in due course. The exceptional powers of the minister (since expanded) have been used as expected and the complete lack of transparency and pubic accountability has changed little. The only up side is the wealth of the original constituency was not saved and the stoke as originally formulated backfired spectacularly as the banks were not saved either.

What has changed for the worst is that the final cost of NAMA over a properly constituted resolution trust has probably tripled. In adjusted 2008 numbers the final loss (including opportunity cost) when NAMA is eventually wound down will be somewhere around the 90% of the original loan portfolio. In other words on its own NAMA will cost the country about 8 to 10 years of normal economic growth. Add in the failed bank bailout and the 15 years of lost growth last time (1980-1995) around should be easily surpassed this time.

Final recovery by 2030 anyone?

Another load of b*llox from the silly season

Quotes

“full disclosure: your reviewer quickly concluded life is too short and precious to attempt to read the whole thing”

and

“Anybody who really wants to understand NAMA will have to read this book. Anybody who wants to understand why NAMA is so cautious about actually taking any action, need only flick through the book and remind themselves that NAMA is a most unusual response to the crisis and a response that poses almost as many questions as it answers. It can be purchased on www.independentbooks.ie, with free P&P, or by calling 01 4059100”

And the reviewer could at least have checked the price - €403, not €359, on independentbooks.ie, the link given.

And you giving it away for free!

Put that paywall on the site NWL - think of all those developers and lawyers salivating on the other side!

You have your price point now as well.

At €403 a pop, a couple of hundred NAMA VIs should make it worth your while :slight_smile:

Even books about NAMA cost a small African country’s GDP to buy.

On a more positive note, if they sell a billion of them that’s the national debt cleared.

Did anyone ever get their hands on a copy of this and scan it up? I’d be interested to read the official interpretation of events.