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About LinkBacksI would be more interested in when he thinks they'll be back out (with their properties)Originally Posted by He3
I would be more interested in when he thinks they'll be back out (with their properties)
If engineers were wrong as often as economists, would anyone fly aeroplanes?
Do you have a better way for dealing with the problem we have?
Nearly all commentators I have heard agree that we need a system that quarantines these loans from the Bank Balance Sheets.
The Governments proposal is as set out in the Bill, taking the assets from the Bank at a discount. The Fine Gael proposal is to set up a NAMA called New Era and take the assets at face value. The Labour proposal is to take on all the Banks' liabilities by Nationalising them, and then do the NAMA carve up behind closed doors.
But at the end of the day we are still going to have to quarantine these loans, and we are still going to have to recapitalise the Banks.
If you have a better solution lets hear it!
"Always do right. This will gratify some people and astonish the rest." Mark Twain
“When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes. Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.” Napoléon Bonaparte
I don't think we're going to get a solution on a website but that doesn't mean we should accept a solution from the same people who told us it didn't exist this time last year. Anyone with an ounce of sense knew we had a property bubble but we were reassured that ours was different, we would have a soft landing. We are now told that Nama is the solution and that we should trust the experts who could not see that a house in Lucan was not worth more than one in Paris to appraise the future value of property when they can't tell us whether that future will be in 5 years or 10. If that isn't enough to convince us, Tom Parlon can't wait for NAMA to be set up. Planet Bertie was bad enough, we don't all want to end up in Parlon country.
If engineers were wrong as often as economists, would anyone fly aeroplanes?
Have a look here
http://www.politics.ie/economy/90391...ion-panel.html
and here
http://www.politics.ie/economy/90337-nama-discount.html
and briefly here
http://www.politics.ie/economy/90348...gislation.html
'Personally, I find the notion of changing our constitution in exchange for a loan absolutely disgusting'. - Tin Foil Hat
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