Monthly Archives: September 2009
The banking crisis for the confused Part 3 – NAMA; the medicene that leaves a bad taste… and aint guaranteed to work.
In the previous blog I mentioned NAMA, this is essentially a bad bank with a state sponsored cheque book. The basic aim is to remove the bad debts from the banks and then recapitalise them with more state money. This is being done with the objective of getting credit flowing again…
Many people don’t necessarily disagree with the idea NAMA, but don’t agree with the way it is going to be managed… The lack of transparency (where is OUR money going), the gag orders on the civil servants who run it, the over-payment for properties, the poor record of our current government will mean that mis-management is inevitable and what return if any will the tax payer see?
Continue reading
Filed under Uncategorized
