Re: Namaland: Prime Time Special 6/9/11
Just finished watching it on the RTÉ playback. The hysterical tone allied to the presenter's Dort accent and high-functioning illiteracy (am I the only person in Ireland who notices the repeated misuse of the word 'enormity'?) was really putting me off, but I persevered with it. First, you'd have to question 'what are NAMA getting out of this show for granting the access they did?' Well, I suppose they're getting to put their point of view in a relatively unchallenged manner, and make themselves look like they're playing hard-ball for the 'public interest'. The stories of the developers (both participating and non-participating in this show) does rather give the lie to this. McEvaddy, O'Flynn, Grehan(?) and Mellon seem to think that NAMA exists to get them back to wheeling and dealing, making sure that they get back to being the 'world-class' rich class Oireland Inc. can't do without (thanks Ulick for using my pejorative!). O'Toole's point that the functioning of NAMA has made the system 'buy in' further on the mindset that got this mess created in the first place was well-made and appropriate, depending on the 'expertise' and 'experience' of these entreprenhoors to get 'value' for the NAMA portfolio from the 'market'.
The titbit of info regarding the non-production of the 'due diligence' by the bailed-out banks for €17bn of debt in NAMA's hands suggests to me that there's a bureaucratic and legal minuet being danced by the developer class, the banks and the statutory players in this mess that aims to stiff the little people for even more of Oireland Inc.'s bad gambles, so that the likes of Bernard McNamara can come 'home' unburdened so Oireland Inc. can restart their fantasy economy once more with someone else's money. The other titbit about developers re-locating out of the state to shop for favourable bankruptcy arrangements is no surprise to PW posters, but when placed in the overall context revealed by this much-flawed, yet valuable, TV show adds to the sense that we the people are being had by this pretence at chasing the developer class while in reality NAMA is operating as the Witless Protection Program for our 'beloved' Oireland Inc.
Last edited by Kid Ryder; 07-09-2011 at 02:59 AM.
Reason: add clause
"It is we the workers who built these palaces and cities here in Spain and in America and everywhere. We, the workers, can build others to take their place. And better ones! We are not in the least afraid of ruins. We are going to inherit the earth; there is not the slightest doubt about that. The bourgeoisie might blast and ruin its own world before it leaves the stage of history. We carry a new world here, in our hearts."
— Buenaventura Durruti