Now Speak Your Mind on Nama - Sindo Text Referendum on NAMA

[ang]

Since last weeks results on our Anglo poll have shown how PoliticalWorld.org is consistent with the views of the Irish Public this week we shall run our poll in tandem with the Sindo text referendum on NAMA:-


The Government has consistently denied that Nama is a bailout for developers. However, cracks have continued to appear in that claim. Indeed, the very last story the highly respected and much missed Alan Ruddock wrote for this newspaper was an analysis of a speech by the head of Nama, which suggested that Nama was in fact a bailout for developers because Nama's goal was only to get back from developers the discounted prices that Nama paid for loans. The idea that Nama involves any form of debt forgiveness for developers, while the rest of us, with more modest loans, are being forced to pay up every penny, are having our interest rates hiked at regular intervals, and are being harassed and penalised to the point of losing our homes if we don't pay up, is a difficult one for many people to grasp.


http://www.independent.ie/opinion/analysis/now-speak-your-mind-on-nama-2271696.html

[antiestablishmentarian]

Interesting, 2 respondees support NAMA, would ye like to post your reasons here? Just curious like.

[C. Flower]

Interesting, 2 respondees support NAMA, would ye like to post your reasons here? Just curious like.

messers ;)

[malbekh]

Greetings.

That would be three. The context is that some form of NAMA is required to deal with the current issues regarding the banks and the developers. Also, it would be legally extremely difficult to reverse the process. The same situation with the running down of Anglo-Irish, while the whole process along with INBS is a disaster for the State, once it is/was backed by the bank guarantee scheme any other approach is irrelevant.

This is all very much after the event. I supported NAMA up until the mindless LTEV was out in place and when they decided to backdate the valuation on the loans in November when the loans weren't transferred until April.

[ang]

Greetings.

That would be three. The context is that some form of NAMA is required to deal with the current issues regarding the banks and the developers. Also, it would be legally extremely difficult to reverse the process. The same situation with the running down of Anglo-Irish, while the whole process along with INBS is a disaster for the State, once it is/was backed by the bank guarantee scheme any other approach is irrelevant.

This is all very much after the event. I supported NAMA up until the mindless LTEV was out in place and when they decided to backdate the valuation on the loans in November when the loans weren't transferred until April.

Hi Malbekh,

Do you see any changes that could be made to NAMA that would make it easier for the taxpayer to swallow ??

Do you consider the LTEV the only flaw??

[MrFunkyBoogaloo]

NAMA should have been stopped before it even started.

[malbekh]

Hi Malbekh,

Do you see any changes that could be made to NAMA that would make it easier for the taxpayer to swallow ??

Do you consider the LTEV the only flaw??

Hi ang, the problem with NAMA is both the LTEV as well as the postdated valuations on the properties, all of which in my opinion guarantee that over 10 years it will return a healthy loss to the State.

In terms of changes, with the protocols on the SPV, approval by the ECB and the existing tranches from the first property loans to be taken on board, I can't see any changes that can take place, let alone derail the entire monster.

There's nothing wrong with the idea, but everything is in the execution..

[Xray]

Interesting, 2 respondees support NAMA, would ye like to post your reasons here? Just curious like.

Yea, I have changed my mind and believe we all need to pull together and just get behind the government. I am selling a kidney on ebay and giving it towards the sewage pump in the convention center.

[Xray]

NAMA should have been stopped before it even started.

The EU might well pull the plug indirectly yet via Anglo or the courts might kill it off either. Or the "markets". I cannot imagine a decade of this crap.

[ang]

Hi ang, the problem with NAMA is both the LTEV as well as the postdated valuations on the properties, all of which in my opinion guarantee that over 10 years it will return a healthy loss to the State.

In terms of changes, with the protocols on the SPV, approval by the ECB and the existing tranches from the first property loans to be taken on board, I can't see any changes that can take place, let alone derail the entire monster.

There's nothing wrong with the idea, but everything is in the execution..

Thanks Malbekh, it's always good to get varied opinions and to see what areas can or can't be changed.

Personally I can't see that we have the capacity to deal with NAMA as structured. I think with the two ongoing court challenges we could run in to a lot of trouble.

[ang]

Yet again the view of PoliticalWorld.org Guests and members has been proven to be consistent with the view of the Irish Nation:-


NAMA should be stopped in its tracks, according to 86.3 per cent of respondents, or 7,747 people, who texted the Sunday Independent. Just 13.7 per cent, or 1,230 people, want Nama to continue,

http://www.independent.ie/national-news/vast-majority-demand-an-end-to-nama-2280578.html

[wickedfairy]

good article by Matt Cooper in Irish Examiner on the boys at the new convention center, hugging and laughing, crises, what crisis??

http://www.irishexaminer.com/opinion/columnists/matt-cooper/would-you-embrace-bertie-just-like-that-busted-property-developer-130355.html