David McWiliams gets on board with NAMA

[goosebump]

In a rare piece of buzzword-free humility, David McWilliams admits that NAMA is probably the best option for the Irish banking system:

David McWillaims answers your questions regarding the Irish banking system, NAMA and the economy.

"there was a big positive last week when Michael Sommers let it slip that the bonds which the banks will issue to cover the hole in their balance sheets will be redeemed for cash by the ECB. This means that I was wrong and the threat of nationalisation is fading."

"I think it will succeed, but the costs will be very high in terms of banking charges in Ireland for the next few years so it’s not good for growth. NAMA might succeed but the costs will be huge."

[toughbutfair]

I tend to trust somebody who says "I was wrong".

[Libero]

In a rare piece of buzzword-free humility, David McWilliams admits that NAMA is probably the best option for the Irish banking system:

I think you might be mistaking one man's acceptance and analysis of a fait accompli for active support.

[sandar]

mcwilliams is an excellent commentator, his reason for liking the NAMA is valid. In my much less expert view, the NAM model can work in ireland if appplied right, but much more radical measures are needed for it to work elsewhere

[powderfinger]

David offers some investment advice in that Q+A.

I’m very bullish on Green Technology and Rare Earth Stock.

[sandar]

David offers some investment advice in that Q+A.

to be honest what he is saying there is obvious. BUt its no more obvious than is predicitions on the house marfket to my mind, doesnt mean people will listen to him now when they didnt before.

[powderfinger]

In a rare piece of buzzword-free humility, David McWilliams admits that NAMA is probably the best option for the Irish banking system:

David McWillaims answers your questions regarding the Irish banking system, NAMA and the economy.

"there was a big positive last week when Michael Sommers let it slip that the bonds which the banks will issue to cover the hole in their balance sheets will be redeemed for cash by the ECB. This means that I was wrong and the threat of nationalisation is fading."

"I think it will succeed, but the costs will be very high in terms of banking charges in Ireland for the next few years so it’s not good for growth. NAMA might succeed but the costs will be huge."

Goosebump.
'I think it's important to say ' that this Q+A with David is dated the 29th June.
Given the ongoing developments at Laragan,the Carroll 6,and Tivway,his view may need updating.

[Greener]

The statements are laden with qualifications. He has not said outright that it will work. I agree that it may work, but that doesnt mean that I am sure of it's success.

[BodyofEvidence]

Whether it will or will not work is irrelevant ; its going to happen (unless ACC sink it....).

[goosebump]

Goosebump.
'I think it's important to say ' that this Q+A with David is dated the 29th June.
Given the ongoing developments at Laragan,the Carroll 6,and Tivway,his view may need updating.

I agree that these are significant developments, but they mean that NAMA needs to be fast-tracked rather than ditched.