NTMA hires Rossa White as Chief Economist

They couldn’t afford anyone from Goldman.

Some info: fea.ie/speaker_rwhite.html

“Buy More Stuff”

Not the worst, but jeepers, are we going to be subjected to acres of…

Well we all know the story, if the economy is fu**ed then get a public service job. I hope he doesnt come up with any new schemes such as the one the CUs lost money investing in and Davy’s had to come up with €35 mill to repay (I stand to be corrected on that figure and would be surprised if I am far out).
Its obvious from this appointment that Harry Potter and Mystic Meg weren’t available. :unamused:

It could have been worse…

It could have been Alan McQuaid…

They seem to have gone with the, sure, he’s a lovely young fella line… :unamused:

Did they even give Desperate Dan a phone call ?

Well now…you never really thought it was going to be Morgan… :angry:

(Mind you the very idea makes me go giddy :mrgreen: )

Indeed. On that profile Rossa claims to have warned about the Irish house price correction. He also writes a column for the CIF magazine.
Doesn’t mention Davy’s consistently incorrect growth forecasts amongs other disastrous advice it gave clients up and down the country.
The point about getting the PS job is a good one.

Mar 2006

scribd.com/doc/33117204/Ross … use-Prices

Credit where credit is due.

I find this totally unbelievable.

There is no way this man is qualified or has the requisite experience/academic profile to be the chief economist at the agancy that controls the national debt of a European Country.

It actually beggars belief.

Was this position subject to the usual public service recruitment proceedures? What is the annual remuneration for this position?

His pronouncements on the economy in the past have been sub standard by any reasonable measure and the fact he worked for the largest bond issuer in the state creates a significant conflict of interest.

Was at a party about 7-8 years ago and he was there, didn’t know what he did at the time. To be fair he did seem like a nice fella but the one thing I always remembered was that he named Sean Fitzpatrick as the one person he really looked up to. Probably not something he mentions now.

The bubble started long before Rossa said anything remotely negative about it. He was a soft landing merchant as well.

he one of the gifted many who havent a fuckin clue what they are talking about XX

Gold to the Moon! Last Christmas!!! :laughing:

U forgot OJ.

Sure Rossa White hasn’t got everything right. But he pointed out that ECB rates were way too low for Ireland in I think 05 and called the property market in 06. In late 07 he pointed out the vulnerability of the 08 tax take, and, well we all know what happened next. So why so snide folks?

Boston: The NTMA doesn’t have to abide by the regular PS recruitment processes. It was set up that way.

Probably because people dont trust him or his former employers given their past history of turning a blind eye to the shite they sold CUs, so its not a matter of being snide its a matter of they didnt give a fiddlers about the little guys money or how they got it in the past and now they have one of their own on the inside. Hows that for an explanation?

Or perhaps for stuff like this in April 2007:

Or this for Future Shock:
magico.ie/files/admin/upload … _23412.pdf
May 2007

Now, he did warn in October 2006 of the risks to government finances from a downturn:
davydirect.ie/other/pubartic … ct2006.pdf
but underestimated the effects.

The problem is that the soft landing brigade did untold damage to buyers over the last two years in an effort to shift stock that their owners had an interest in. This was spin, if not lies, and was most damaging to anyone who bought thinking they were facing a short-term blip in the market. Indeed, the lifeline given to government by the soft landing/temporary blip argument undoubtedly encouraged madcap schemes like the unlimited guarantee and NAMA. Only Jim Power has been man enough to admit that was a mistake. The rest of the soft landing brigade march on, carpet slippers flopping, blazer buttons shiny, pipes at the ready. There’s a comfy desk there somewhere for them as their current masters go bust.

Everyone needs a poodle…

Im just ahead of my time thats all 8DD