Our NAMA is the envy of Europe.

Maybe not, but:
ftalphaville.ft.com/blog/2012/07 … -in-spain/

The conditions of the Spain bailout include setting up a similar asset management company / bad bank. Lends credence to the theory that we were the laboratory for this approach with NAMA, and maybe the recent (vague) concessions Ireland got last week were a sweetener to show Spain et al that this approach leads to light at the end of the tunnel.

In case you are confused, the term “bail-in” in the article title refers to creditor participation (losses) as part of a restructuring of sovereign debt.

If our NAMA were born a hundred years ago people would be paying a farthing to wonder at the freakishness of it in the travelling fair.

NamaWineLake has a write up on the asset management company:
namawinelake.wordpress.com/2012/ … f-bailout/

Surely it would be brazen for them to assert they know the real, certain, true value? :angry:

Perhaps they meant ‘real’ in the sense that it is Spanish for ‘Royal’. Maybe instead the phrase ‘Real Long Term’ is key, in the same way it has been a real long time since 1989, but Tokyo prices have yet to recover.

If only they could have cryogenically preserved Dutch tulips for a few centuries, perhaps they would be worth the nominal price by now, given all the inflation.