Nama’s sell-off strategy gives big advantage to foreign hedge funds - Colm O’Rourke → independent.ie/business/iris … 69755.html
Last week the Minister for Sport Michael Ring tried to silence me on raising my serious reservations about the operation of Nama and the lack of action by the minister in securing sports facilities for the future.
Nama likes to spin the line that the way it is doing business by selling off huge quantities of property portfolios to foreign hedge funds is getting maximum return for the Irish taxpayer. By selling in such volumes, however, the only ones with the money to purchase are foreign-controlled vulture funds. The only reason they are buying is because they think they will be able to sell on at either lucrative, or very lucrative, profits.
there is more
gaius
August 1, 2015, 10:33am
#2
It’s some going to make me side with NAMA but Colm O’Rourke has managed it.
I wonder if NAMA inherited the land he was trying to develop in the past? No sign of his consortium or NAMA to offer the site to Meath GAA…
independent.ie/irish-news/ba … 62476.html
O’Rourke owes so much money I actually feel sorry for him.
He’s pissed off that Dublin GAA lost out on the Spawell complex for a new stadium, Sthside. And he’s right to be.
