NAMA: Banks will share risk with taxpayer - Eamon Ryan

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Speaking on Morning Ireland, Eamon Ryan said that the Greens have secured an agreement with their FF masters that the money from performing loans will be used to guarantee the taxpayer wont be fleeced. Very good Mr Ryan. Lets hope SCAMA is able to get these loans inside the fence with to much of a legal fight.

Does he really think the developers are going to give up their performing loans ? Also, what happens if a loan that was performing, then stops performing ? I.E. rents are falling and interest rates are rising.

[greengoose2]

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[SIZE="7"]Eamon Ryan = NAIVE[/SIZE]

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Its an interesting point, what developer is going to hand over performing loans? FF cant confiscate all of them ?

[TradCat]

If the whole point of the exercise is to bail out the banks so they can lend again then there is no way they can really "share the risk". They already took the risk and failed. We are now picking up the pieces for them.

If you pick up your brothers gambling debts it doesn't matter what sanction you impose or what warnings you issue. He is already thinking that he's back in the game. Of course he'll tell you whatever you want to hear.

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Is this the best window dressing the Greens can extract from their FF masters?

[Speedfreak]

Its an interesting point, what developer is going to hand over performing loans? FF cant confiscate all of them ?

What difference does it make to the developers? All it means is that NAMA administers and collects the loan repayments rather than the banks.

NAMA is buying these kind of loans with the good ones so that it can pay the armies of estate agents and quantity surveyors it has taken on.

Of course, making it opaque that the taxpayer is paying to keep these clowns employed at building sandcastles in the air with their spurious and pernicious valuation techniques.

[powderfinger]

If the whole point of the exercise is to bail out the banks so they can lend again then there is no way they can really "share the risk". They already took the risk and failed. We are now picking up the pieces for them.

If you pick up your brothers gambling debts it doesn't matter what sanction you impose or what warnings you issue. He is already thinking that he's back in the game. Of course he'll tell you whatever you want to hear.

The only avenue which can work in that scenario TC is something like a 12 step recovery programme.
Perhaps we need Bankers Anonymous.

[Hal]

Its an interesting point, what developer is going to hand over performing loans? FF cant confiscate all of them ?

Is there nothing you can't misunderstand? The loans don't belong to the developer, they belong to the lender, in this case the banks. The developer has no say in it whatsoever. This is the most basic point on NAMA and yet despite all your bluster you don't even understand that much.

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Is there nothing you can't misunderstand? The loans don't belong to the developer, they belong to the lender, in this case the banks. The developer has no say in it whatsoever. This is the most basic point on NAMA and yet despite all your bluster you don't even understand that much.

the taxpayer will end up owning fields in Monaghan.

[jmcc]

How about this for a novel idea: The banks can share their risks with their developers. Let them tear each other apart for our entertainment.

Regards...jmcc