nationalise the banks now say economists

[BodyofEvidence]

Youngdan : yuou seem to be suggesting tht we let the banks go, yes? As in not offer any support to them re bad debts etc?

[youngdan]

Well what option is there. The government dosn't have 60-80 billion lying around, the taxbase, still shrinking, is 25 billion in the hole as it is. That is out of a budget of about 48 billion. They can not go out and borrow the 85-105 billion.

It sounds great talking about about buying 90 billion of debt but it is even more crazy talk than the example of the neighbour of wysiwyg who thought his house was worth 840000 and now is looking for 400000.

The money is gone and it can not be repaid.

[diablo]

Hi Caoimhe,

I've posted this comment on your survey too, but in case you're not collecting your results soon I felt it best to state it here too to make sure you see it soon. I think your survey form is all over the kip (for example, question 10 including an 'other' category without space to specify and question 6 effectively asking a yes/no question but providing a text box for a reply).

I don't know if you are a student and have access to a library, but can I suggest you look up a book by a guy called Bryman called 'social research methods' book by a guy called Bryman called 'social research methods'. I'd suggest you drop this survey and redesign it after reading Bryman. Chapters 9 and 10 should see you right.

Student ?? No, she's from the Dept of the Taoiseach

[rebelexpat]

This is very significant indeed. We desperately need to hear from the academic community on this matter.

Only thing is, there are more than 20 economists working in Irish universities. How come Moore's name isn't on the list, for example?

Ah God No - You couldn't listen to ANY academic - especially if they are talking SENSE - best advice then is to stick your fingers in your ears and sing loudly or maybe say....

'Sitting on the sidelines, cribbing and moaning is a lost opportunity. I don't know how people who engage in that don't commit suicide because frankly the only thing that motivates me is being able to actively change something,'...........!

[BodyofEvidence]

This is very significant indeed. We desperately need to hear from the academic community on this matter.

Only thing is, there are more than 20 economists working in Irish universities. How come Moore's name isn't on the list, for example?

Doubleglaze
Many of the people on the list have been saying variations of this for months now - lucey, whelan, hutson etc.
As for the others: they were eitehr not asked or did not sign. Probably best to email them and ask which!

[Outlander]

So the plan is likely to be the govt issuing €60,000,000,000 in bonds and giving them to the banks in return for the bad loans. The banks then put the 60 billion IOUs in the vault and everything in the garden will be rosy.

She's a nice girl Rosy.

[He3]

Doubleglaze
Many of the people on the list have been saying variations of this for months now - lucey, whelan, hutson etc.
As for the others: they were eitehr not asked or did not sign. Probably best to email them and ask which!

Moore endorsed it that same day on radio, according to a poster here.

Turn the question around.

Apart from the government and Bacon, who is for this madcap NAMA notion?

[BodyofEvidence]

So the plan is likely to be the govt issuing €60,000,000,000 in bonds and giving them to the banks in return for the bad loans. The banks then put the 60 billion IOUs in the vault and everything in the garden will be rosy.

She's a nice girl Rosy.

Wont be 60b fot he loans. More like 45 for the loans and 15 for the recapitalization.....
but, thats under nationalization or NAMAficatin. Either way, we are on the hook.

[powderfinger]

Well what option is there. The government dosn't have 60-80 billion lying around, the taxbase, still shrinking, is 25 billion in the hole as it is. That is out of a budget of about 48 billion. They can not go out and borrow the 85-105 billion.

It sounds great talking about about buying 90 billion of debt but it is even more crazy talk than the example of the neighbour of wysiwyg who thought his house was worth 840000 and now is looking for 400000.

The money is gone and it can not be repaid.

It was eloquently put by yourself Young Dan on another thread last year.
A bit hazy on previous commentary and all that good stuff.IIRC that post had to do with the wound-ups and the wind-downs.
Same as it ever was.

[Dreaded_Estate]

Wont be 60b fot he loans. More like 45 for the loans and 15 for the recapitalization.....
but, thats under nationalization or NAMAficatin. Either way, we are on the hook.

If it is only €45B for the loans I think it will be closer to €30B for the recapitalization.

A doubling of the debt overnight and just below 100% before the next few years deficits are added onto it.