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Thread: You couldn't make this up - Some Odd Facts About NAMA

  1. #331
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    Default Re: You couldn't make this up - Some Odd Facts About NAMA

    Watch the great political slug Jabba Noonan slither out of this one too.

    Nothing can bring that corrupt fool down. He's too cute by half.

  2. #332
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    Default Re: You couldn't make this up - Some Odd Facts About NAMA

    Quote Originally Posted by Apjp View Post
    Watch the great political slug Jabba Noonan slither out of this one too.

    Nothing can bring that corrupt fool down. He's too cute by half.
    Noonan is learning from Denis O'Brien. If in doubt threaten the Oireachtas with legal action. Surely he should stand down from office if he wants to do that ?

    http://www.limerickleader.ie/news/ho...junct-pac.html
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

  3. #333
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    Default Re: You couldn't make this up - Some Odd Facts About NAMA

    Project Tolka --- should it have been sold on th open market ?
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

  4. #334
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    Default Re: You couldn't make this up - Some Odd Facts About NAMA

    The CEO of Albany (house developers) is giving an interview with Marian Finucane in which he is explaining NAMA's role in contributing to the current housing crisis.

    To reiterate - NAMA 'Nama'd' ALL developers with loans over 5 million, performing or non-performing. Albany - and some others - were far from broke. Albany had a rental income flow that covered the interest on its loans, and a business plan to pay off its loans in 5-7 year. NAMA prevented all similar companies from building any houses. The asked him to liquidate all his assets and repay 500 million in 24 hours. He did repay, by selling properties.

    NAMA's remit was to manage things so that Ireland ended up with a functioning banking system. He thinks this failed, because NAMA sold too early and too cheap. The Vulture Funds made the profits. NAMA let planning permissions expire rather than make an application to extend the permission - which could have been done for a couple of thousand. The value of the lost permission was millions.

    He compairs NAMA with the Plantations.

    He asked why did Noonan not stand up to the Europeans and save 18-36 billion that NAMA has lost through fire sales.

    He personally went to Court and got out not indebted. His company does not build houses any more.

    He commissioned Jim Power to write a report on NAMA. I've not read it yet - anyone got a link ?

    NAMA has enormously increased national debt and destroyed the construction industry in Ireland.
    Last edited by C. Flower; 27-05-2017 at 10:37 AM.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

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