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  1. #1
    Baron von Biffo Baron von Biffo is offline

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    NAMA to allow Developers to walk away from debt.

    RTE This Week is just reporting that developers in NAMA will be granted debt forgiveness for part of their debts - up to 40% from the example given. They are saying that the terms are a lot more attractive than bankruptcy. If this happens it will be the polar opposite of Lenihan's claims that the agency wouldn't be a bailout mechanism for developers.

    Gangsters, swindlers and parasites ---- 1

    Taxpayers ---- 0


    EDIT: Could a mod remove the second 'to' from the title please.
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  2. #2
    Cassandra Syndrome Cassandra Syndrome is offline
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    We have become saturated by it all. It has become the new norm.

    Next thing the headline will be

    "NAMA to enforce citizens sacrifice their first born for the Banks and Developers and politicians"

    And we won't pass any remarks. Indeed some of the NAMAtron fanatics will queue for this all night.
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  3. #3
    justme1 justme1 is offline
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    Quote Originally Posted by Baron von Biffo View Post
    RTE This Week is just reporting that developers in NAMA will be granted debt forgiveness for part of their debts - up to 40% from the example given. They are saying that the terms are a lot more attractive than bankruptcy. If this happens it will be the polar opposite of Lenihan's claims that the agency wouldn't be a bailout mechanism for developers.

    Gangsters, swindlers and parasites ---- 1

    Taxpayers ---- 0



    EDIT: Could a mod remove the second 'to' from the title please.

    Gansters,swindlers and parasites --- 144

    Taxpayers --- 0
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  4. #4
    maxthedog maxthedog is offline

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    Gangsters,swindlers and parasites------- +84 Billion Euro

    taxpayers .......................... -140Billion Euro and the bill is rising every day.
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  5. #5
    Touché Touché is offline

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    It's panning out as most of us expected, we have to hope the opposition overhaul the FF nama beast when they get their turn
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  6. #6
    Sucker Punch Sucker Punch is offline

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    Quote Originally Posted by Baron von Biffo View Post
    RTE This Week is just reporting that developers in NAMA will be granted debt forgiveness for part of their debts - up to 40% from the example given. They are saying that the terms are a lot more attractive than bankruptcy. If this happens it will be the polar opposite of Lenihan's claims that the agency wouldn't be a bailout mechanism for developers.

    Gangsters, swindlers and parasites ---- 1

    Taxpayers ---- 0


    EDIT: Could a mod remove the second 'to' from the title please.
    We are where we are.
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  7. #7
    Dreaded_Estate Dreaded_Estate is offline
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    It was always part of the plan. I think we will see debt of up to 50% written off for developers and they will be allowed to stay out of bankruptcy.
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  8. #8
    DCon DCon is offline

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    Quote Originally Posted by Baron von Biffo View Post
    RTE This Week is just reporting that developers in NAMA will be granted debt forgiveness for part of their debts - up to 40% from the example given. They are saying that the terms are a lot more attractive than bankruptcy. If this happens it will be the polar opposite of Lenihan's claims that the agency wouldn't be a bailout mechanism for developers.

    Gangsters, swindlers and parasites ---- 1

    Taxpayers ---- 0


    EDIT: Could a mod remove the second 'to' from the title please.
    You mean Lenihan was not entirely truthful.

    Shocking

    The man is normally such a paragon of virtue and truth
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  9. #9
    eoghanacht eoghanacht is offline
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    Don't forget that there's nothing stopping them from setting up new companies and buying back their own assets from NAMA at a reduced priced.

    You gotta hand it to FF, when they screw ye, they really screw ye.
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  10. #10
    DCon DCon is offline

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    Quote Originally Posted by Dreaded_Estate View Post
    It was always part of the plan. I think we will see debt of up to 50% written off for developers and they will be allowed to stay out of bankruptcy.
    of course

    I would even say the entire haircut NAMA got from the banks will be passed on.

    The rich cannot be allowed become poor. If the not rich and the currently poor have to become poorer as part of this process, then so be it
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