IGB Site owned by NAMA!! Prof Niamh Brennan

[irishpancake]

Just heard an interview with Prof Brennan on RTE1 with David Murphy.

She said the debt situation of DDDA is much better now, as the there are three Publicly owned entities involved, DDDA being one, NAMA being the third, don't know which other State body was involved, but I certainly heard Prof. Brennan say in that interview:

"The site is now owned by NAMA"!!!!

Is this in fact true, or does NAMA merely own the Loan(s) involved ion the purchase of this site.

How has NAMA become the owner of this site?

Will this happen with all other loans transferred to NAMA?

Perhaps Prof. Brennan misunderstands the function of NAMA, which is not to give a dig-out or bail-out to Developers, or so we are told, but to recover whatever it can to meet the terms of the loan?

I don't have a link for the interview as of yet, but it was on RTE Morning Ireland about 08:15.

[consultant]

Sorry, I didn't see this thread and posted a similar observation on the earlier DDDA one.

Makes one wonder about impartiality or what one needs (other than a prominent partner) to become a Professor, doesn't it?

[Donald Segretti]

Come off it Consultant. Brennan got her job under her own steam.

The IGB site may come under the control of the banks if it was used as security for loans which are now in default. As that it highly to have happened, Brennan may be stating no more than the truth. Control of the property would then pass - via the banks - to NAMA.

[consultant]

Come off it Consultant. Brennan got her job under her own steam.

The IGB site may come under the control of the banks if it was used as security for loans which are now in default. As that it highly to have happened, Brennan may be stating no more than the truth. Control of the property would then pass - via the banks - to NAMA.

Regardless of how she GOT the job, her interview this morning certainly raises questions.

To your point about control of the property, who pays for NAMA if not the taxpayer?

[HP]

Why is it that threads like this, where real cause for outrage is revealed, are not overrun with ranting joe duffy listeners foaming at the mouth???

Does Joe not cover stuff like this?


Or is it just that the ranters can't even conceive of comparing themselves to the uber rich crooks involved here so plain old jealousy isn't a runner...

There must be some psychologists out there with an interesting viewpoint on manipulation of the masses...

Campare this to the pages of guff being spouted about the passport office workers for example....

[consultant]

Why is it that threads like this, where real cause for outrage is revealed, are not overrun with ranting joe duffy listeners foaming at the mouth???

Does Joe not cover stuff like this?


Or is it just that the ranters can't even conceive of comparing themselves to the uber rich crooks involved here so plain old jealousy isn't a runner...

There must be some psychologists out there with an interesting viewpoint on manipulation of the masses...Campare this to the pages of guff being spouted about the passport office workers for example....

Cue the Dynamic Duo - Odie and Tonic!!

[irishpancake]

"The site is now owned by the Taxpayer, because it is it is now owned by NAMA" Prof. Niamh Brennan

As it was said on rte1 Morning Ireland

RTÉ.ie Radio 1: Morning Ireland Media Player

2:50 approx into interview with Prof. Brennan.

So, is this in fact the case??

[CookieMonster]

Wasn't it owned buy the taxpayer anyway... DDDA is a government body is it not?

[CookieMonster]

i was reading about this in the IT this mornin:

“When you take into account the fact that one third of the proceeds went to a State company - Dublin port, when you take into account that stamp duty was paid on the transaction, when you take into account capital gains was paid on the transaction, when you take into account that the value given by Nama on the site was, I understand, similar to value on our books, when you put all that together the exposure to the taxpayer is a lot less than people have been talking about,” she said. It certainly is no where near the €412 million that was paid for the site."

She mentions two reports and some issues with the former chairman too, butthe question remains: What the hell went on the in DDDA? What exactly was their purpose and why did they feel the need to but the IGB site in the first place?

[consultant]

Wasn't it owned buy the taxpayer anyway... DDDA is a government body is it not?

But, who owns the government?

(And how much tax do they pay??)