Board index » The IRISH PROPERTY BUBBLE » The Golden Circle » NAMAwatch (Pt. I)

Post new topic Reply to topic  [ 287 posts ]  [Go to page]   1, 2, 3, 4, 5 ... 29  Next
Author Message
 Post subject: inquiry into 'insider' NAMA deal
PostPosted: Sun Aug 05, 2012 2:12 pm 
Offline
Under CAB Investigation

Joined: Apr 4, 2008
Posts: 2572
Can't find the IT link online but it's on their front page

Being discussed P.ie:

http://www.politics.ie/forum/economy/19 ... folio.html

_________________
Borrowers seeking mortgages have had to resort to saving deposits, forcing many to sit by and watch house prices tumble without being able to do anything about it. Sunday Independent - June 1 2008

I know a lot of them, like [Jimmy] Flynn, [Noel] O’Flaherty and the Baileys. You meet the Baileys at Croke Park every time you go there. You can’t avoid getting a slap on the back going in from them. Most of these guys lost their shirt. I feel sorry for them - Bertie Ahern


Top
 Profile  
 
 Post subject: Re: inquiry into 'insider' NAMA deal
PostPosted: Sun Aug 05, 2012 2:15 pm 
Offline
Under CAB Investigation

Joined: May 3, 2008
Posts: 2107
I'm astonished. And to think that no-one predicted this.

_________________
"Bankruptcies of governments have, on the whole, done less harm to mankind than their ability to raise loans."- R.H. Tawney, Religion and the Rise of Capitalism, 1926

"By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.- John Maynard Keynes, Economic Consequences of Peace


Top
 Profile  
 
 Post subject: Re: inquiry into 'insider' NAMA deal
PostPosted: Sun Aug 05, 2012 9:22 pm 
Offline
Real Estate Developer
User avatar

Joined: Apr 6, 2008
Posts: 974
Location: The Swamp
Puck may be Famous wrote:
I'm astonished. And to think that no-one predicted this.

How did the news get out?, I thought that they had it all sewn up and names prices and locations of buyers and sellers could not be disclosed.

_________________
If you don't know where you are going any road will get you there.- Mark Twain


Top
 Profile  
 
 Post subject: Re: inquiry into 'insider' NAMA deal
PostPosted: Sun Aug 05, 2012 10:38 pm 
Offline
Nationalised
User avatar

Joined: May 13, 2008
Posts: 11764
Location: Somewhere up in the hills
watch+wait wrote:
Puck may be Famous wrote:
I'm astonished. And to think that no-one predicted this.

How did the news get out?, I thought that they had it all sewn up and names prices and locations of buyers and sellers could not be disclosed.
Hopefully whoever disclosed the information will be dragged through the Courts and jailed. Disgraceful stuff. How's a man supposed to make a buck?


Top
 Profile  
 
 Post subject: Re: inquiry into 'insider' NAMA deal
PostPosted: Sun Aug 05, 2012 10:40 pm 
Offline
Property Magnate

Joined: Aug 5, 2012
Posts: 630
Long time lurker, first time poster.

I have to say, is anyone surprised by this?


Top
 Profile  
 
 Post subject: Re: inquiry into 'insider' NAMA deal
PostPosted: Sun Aug 05, 2012 10:41 pm 
Offline
Nationalised
User avatar

Joined: Jul 26, 2009
Posts: 14892
Renting And Proud! wrote:
Can't find the IT link online but it's on their front page

Being discussed P.ie:

http://www.politics.ie/forum/economy/19 ... folio.html


It's in the Sunday Times behind a paywall.

Namawinelake - http://namawinelake.wordpress.com/2012/ ... -employee/

Quote:
NAMA has already sold two substantial landbanks, both on the outskirts of Ireland’s second city, Cork in controversial circumstances. In the first reported in January 2012, the sale of 125 of land for €3-4m merited a “for sale” sign stuck up in a field. The second – 450 acres sold in April 2012 for around €7m – didn’t even warrant a “for sale” sign and was sold off-market to a private buyer. Despite there being a paucity of transactions in the State, NAMA unconvincingly assures us that it achieved good prices for both sales.

Fianna Fail’s flaky senator Mark Daly has been trying to get a new Bill introduced in the Seanad which would force NAMA to make sure all property for sale under its auspices was publicly viewable and transparent. Alas, his Bill was shot down by parties who have a majority in the Seanad and those same parties failed to propose an alternative.

Today’s news is that NAMA sold a five-bedroom house to an employee. NAMA is reported to be claiming that “at this stage” there is no evidence that the house was sold below market value.

And frankly, were it not for the fact that the property didn’t come onto the open market where its price might have been tested, this would probably not have made the headlines. After all, what is wrong with a NAMA employee using part of his average salary of €103,000 to buy an Irish property?


Top
 Profile  
 
 Post subject: Re: inquiry into 'insider' NAMA deal
PostPosted: Sun Aug 05, 2012 10:57 pm 
Offline
Planning Tribunal Attendee

Joined: Apr 23, 2012
Posts: 1185
BoyRacer wrote:
Renting And Proud! wrote:
Can't find the IT link online but it's on their front page

Being discussed P.ie:

http://www.politics.ie/forum/economy/19 ... folio.html


It's in the Sunday Times behind a paywall.

Namawinelake - http://namawinelake.wordpress.com/2012/ ... -employee/

Quote:
NAMA has already sold two substantial landbanks, both on the outskirts of Ireland’s second city, Cork in controversial circumstances. In the first reported in January 2012, the sale of 125 of land for €3-4m merited a “for sale” sign stuck up in a field. The second – 450 acres sold in April 2012 for around €7m – didn’t even warrant a “for sale” sign and was sold off-market to a private buyer. Despite there being a paucity of transactions in the State, NAMA unconvincingly assures us that it achieved good prices for both sales.

Fianna Fail’s flaky senator Mark Daly has been trying to get a new Bill introduced in the Seanad which would force NAMA to make sure all property for sale under its auspices was publicly viewable and transparent. Alas, his Bill was shot down by parties who have a majority in the Seanad and those same parties failed to propose an alternative.

Today’s news is that NAMA sold a five-bedroom house to an employee. NAMA is reported to be claiming that “at this stage” there is no evidence that the house was sold below market value.

And frankly, were it not for the fact that the property didn’t come onto the open market where its price might have been tested, this would probably not have made the headlines. After all, what is wrong with a NAMA employee using part of his average salary of €103,000 to buy an Irish property?



They couldn't be this stupid could they, to let this happen!

Ad per the articles what more evidencedo they actually need

The bubble does not seem to have burst for certain people.

_________________
“The difference between genius and stupidity is; genius has its limits.” Albert Einstein


Top
 Profile  
 
 Post subject: Re: inquiry into 'insider' NAMA deal
PostPosted: Mon Aug 06, 2012 12:19 am 
Offline
Too Big to Fail
User avatar

Joined: Nov 2, 2008
Posts: 3794
Location: Inside a series of tubes.
RTE has details, including a quote form the employee in question

http://www.rte.ie/news/2012/0805/nama-p ... ction.html

_________________
I no longer use this account except for posting about Salesporn.net.
salesporn.net: all your hot house on house action


Top
 Profile  
 
 Post subject: Re: inquiry into 'insider' NAMA deal
PostPosted: Mon Aug 06, 2012 12:34 am 
Offline
Too Big to Fail

Joined: Jun 20, 2010
Posts: 3052
evilal wrote:
RTE has details, including a quote form the employee in question

http://www.rte.ie/news/2012/0805/nama-p ... ction.html


Great story..could someone in Nama actually be briefing against NAMA?

http://www.independent.ie/business/iris ... 67656.html

1April 2012 wrote:
A Nama spokesman told the Sunday Independent that no properties are sold without a competitive bidding process and that all properties are independently valued before any sale. All sales are also reviewed by the Comptroller & Auditor-General's office.


I assume this means heads will roll at the C & AG's office? Yeah right :lol:


Top
 Profile  
 
 Post subject: Re: inquiry into 'insider' NAMA deal
PostPosted: Mon Aug 06, 2012 1:49 am 
Offline
Nationalised

Joined: Oct 29, 2007
Posts: 11790
Location: Multiverse
Was just about to post that very article BG.
It reads like a parody.


Top
 Profile  
 



Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 287 posts ]  [Go to page]   1, 2, 3, 4, 5 ... 29  Next

    Board index » The IRISH PROPERTY BUBBLE » The Golden Circle » NAMAwatch (Pt. I)

Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Jump to:  

Follow, Retweet @dailypinster



Pyramid Built, Is Better Built! - Latest Property Discussions www.thepropertypin.com