What happens if the NAMA legislation does not pass?

[Question R24U]

Nama thread no. 467

The issue is more a concern on economic grounds than politically (I presume there would be an election and defeat for FF).

How could it be defeated? (one has to use one's imagination)
But say the Green Parliamentary Party are vetoed from voting in favour of it, say Enda makes a deal on cancer treatment with the two Sligo ejits, say Grealish is bought by Enda (nomination or Senate seat) say McDaid decides Nama is pants and wants to be rememered for more than James Pius Clarke and driving the wrong way down a motorway, Lowry decides to get out of politics before Moriarty runs him out, or less likely a few FF backbench politicians have their conscience *************************ed and decides to vote no.
But either way the NAMA vote is defeated.
What happens next?

1) Will BoI and/or AIB have to be nationalised straight away?
2) Will the Government allow the shareholders and bondholders of the other banks to be hit, before there is a call on the bank guarantee scheme?
3) will the IMF enter the arena, enter stage extreme right?
4) will the clock be simply be ticked down until the 28th September, 2010?
5) Does the Dof have a plan B?

[Factorem]

I sincerely hope NAMA does not pass and I've already written to the TDs in my constituency.

[Jock_the_Waster]

AIB & BOI will 'officially' go belly up.

move your cash now.

[zakalwe1]

actually the developers might be less able to walk away from the debt if left in the banks hands and its possible that the banks would be able to recoup more than NAMA.


if NAMA is passed, i reckon its every irish citizen's patriotic duty to reduce the effect of NAMA by doing everything possible to increase eurozone inflation.

[Factorem]

AIB & BOI will 'officially' go belly up.

move your cash now.

Do you think there's still a danger of a bank run?

[Captain Con O'Sullivan]

Of course NAMA will pass. FF and the Gombeen Club within FF will make sure of it. It strikes very close to the reason why FF exists at all- as a social club that thinks it has the right to run Ireland for the benefit of 250-300 people and their families.

With a bit of luck it'll push the social situation over the edge and we can have that long awaited and long overdue purge of the sons and daughters of the sons and daughters of Fianna bloody Fail.

You can take 'purge' to mean anything you like.

[Question R24U]

I was, naively, hoping for more considered and informed responses.