Not going to quote the entire article as it’s subscription only (just buy the feckin’ magazine!), but it also goes on to state that Johnny Ronan has also transferred valuable Chinese assets from REO to China REO, essentially leaving REO as a toxic waste vehicle that will almost entirely be put into NAMA. Essentially, Johnny Ronan has been allowed to keep the good part of the business, while shifting liability for the rubbish part into the taxpayers hands.
Whatever about bailing out people in negative equity mortgages, or bailing out the banks, how the fuck can we allow a parasite like Johnny Ronan extort close to get away with this. This issue has to be brought to the attention of the public, because I sure as hell am fucking seething.
well - I suppose if you want anything to appear in the paper the best thing is to do all the legwork yourself and then hand it over to a member of the fourth estate and hope that they will condescend to pass it off as their own work.
I am thinking of a letter to the likes of Joan Bruton, maybe she can ask a question about it in the Dáil. It’s scandalous. REO is only in business because €815 million of their loans are being transferred over to NAMA. Johnny Ronan simply should not be allowed to keep the good part of the business, while transferring the shite over to the taxpayer.
How about this for a suggestion: a large group of taxpayers collectively take an action - a class action - against some of these rogues for Reckless Trading. Bar them from trading in this country for a long time at least.
We pitch in €200 each and hire the best legal team in the country.
In addition, we might seek financial compensation if such a legal option be open to us.
Any winnings to be shared out between the participating taxpayers. Let’s call it an investment scheme of sorts with a possible return on investment.
Legal Eagles required to thrash this proposal out further.
Housebuyer . Not one of those people mentioned will experience any real hardship . The developers will charge NAMA massive fees and expenses for their expertise . I imagine Seanie knows a lot about the inner dealings of FF . Yet he is not excatly screaming from the rooftops . I would imagine a man in his position with his knowledge would be a very dangerous man to have been ruined and on the loose . Yet , we have nothing but silence .
The reason I’m suggesting a class action by taxpayers is because we have reasons to suspect:
*that Fianna Fail vested interests are protecting big developers;
*that NAMA is partially a Fianna Fail bail-out for their developer friends;
*that our Fianna Fail government and some of their hired lackies in powerful places in this land can no longer be trusted to act in the interest of the taxpayer;
*that taxpayers therefore need to take matters into their own hands - legally;
*that if we group together and pitch money in together, we can become a force to reckon with-legally;
*that a multitude of us acting together can fund some of the top brains in this country to work fulltime to bring about justice-legally.
*that we can beat these thugs at their own game - legally.
*that these thugs can be taken out for good- legally.
Anyone with any further suggestions? (PMs also welcome)
A legal action by the masses might indeed be the modern way to conduct a Revolution.
This is a superb idea,I would happily hand over twice that,in fact I would consider it my patriotic duty to do so ,it would feel great to actually hit out at these despicable,hateful,fuckers in the only place that would really hurt them…sign me up.
If FF are to be out of power by 2011 and I would not discount Lenihan running for the leadership before then . What would the difference be be ? FG ? Or a Labour / FG government ? youtube.com/watch?v=9yXH-3EB … re=related
You would imagine that a leader of the oppoisition who has been out of power for over 15 years while the party in power has driven the economy from boom to bust with a broken economy , bust banks , 13 % plus unemployed with thousands in massive negitive equity would be trashing the government of the day into complete submission . Yet it fails to do so .
NAMA is a scam . It is Irelands attempt to reinflate the property bubble while bailing out developers and builders who are the backbone of FF . Why else would you have the fantasy of ’ long term economiv value ’ be used as an excuse for a transfer of wealth from the taxpayer to the banks / developers and builders be accepted by the same clueless taxpayer ?
Ireland is well and truly broken . There is simply not enough money in the world for NAMA to work and to turn a profit . How can a uber bubble like the one in Ireland be repaired without a mark to market approach ?
If the developers / bankers were truly bust , they would have nothing to lose and would be bringing FF , who really are their co conspirators , down with them . Yet we have the golden circle going scot free independent.ie/national-news … 80582.html and developers about charge NAMA all kinds of fee’s and expenses for their expertise .
Its no use posting about one developer who is taking NAMA for a ride when the whole thing is designed for naked corruption .
The reason that I post is because I hate to see my country ( although I don’t live there anymore , and pay no tax ) sold down a river of corruption with thousands forced to emigrate and thousands in massive debt for the want of even basic governance .
I’ll certianly thrown €200 in the pot if we’re going that road. I think I’d pledge more than that
Quick poll - do posters on the board believe that FF will exit government. This is something that I hear people saying a lot but I have this awful feeling that they will be returned to power again. Because the Irish people know what they want
@Kate P - it has been noted that many journalists in this country are very very lazy (not all - but many) - whole-scale regurgitation of press-releases, very little investigative reporting, very few hard questions asked. So if you want something like that printed in a paper I’m saying that your best bet would be to do the work yourself and then try to convince a journalist to pass it off as their own. Hope that clarifies.
I’m not even talking about insider knowledge here Spinnaker (although that would be delightful) - this is all public domain I believe - just poorly exposed by the media. So if somebody could convince more journalists that the article is something worth publishing (and if they in turn are permitted to publish it by their editors) then there’d be no danger of anybody losing their jobs or anything like that. All I’m saying is to convince them to publish it.