LinkBack URL
About LinkBacksAnother lie, joan burton destroyed him.Originally Posted by CorkHurler
Another lie, joan burton destroyed him.
Then someone was not paying attention.
He said the taxpayer would not be paying for NAMA, the government would issue Bonds.
Bonds are IOUs.
The government has no money of its own. It takes money from taxpayers. It will pay for NAMA by pledging our credit on those IOUs.
To say we are not paying is a straight lie.
Yep, its a double or quits gamble with taxpayers money at stake for banks and developers gambles that lost.
upside if gamble wins dispite long odds- payback to developers.
downside if gamble loses - pain for tax payer.
banks have cashed out having taken massive profits in the boom times and now that gamble can only go one way, have passed the gamble to the taxpayers at a small discount.
"To robbery, slaughter, plunder, they give the lying name of empire; they make a desert and call it peace." Galgacus (from Tacitus)
I'm only telling you what the reporter said.
Look...this is p.ie....we dont want facts....
dear god.
this is insane.
How will Lenihan guarantee that the banks can be directed with regard to their use of Nama bonds after exchanging them with the ECB
"both the jump and the fall were ludricious"....
jumping jesus on an aluminum crutch...
"We're not Argentina.We're Ireland." Brian Lenihan.
hang on - is it the Irish government or the ECB who are issueing the bonds.
if its the ECB, then its the European Union collectively that is paying for this.
Reply With Quote