Brian Lenihan to appear before Oireachtais Finance committee at 2pm. 31/08/09

[BodyofEvidence]

Well, there's demoracy out the window!!!!

How can the principled, moral, upstanding Greens, stand for this????

they have to get off their knees first

[Digout]

and a government that looked the other way

They did not look the other way, they actively encouraged it though very generous tax reliefs for the building of stuff that there was no real demand for.

[powderfinger]

The derivatives need more explanation.
The degree of cross-collaterisation needs more explanation.


"Nama will have ability to do derivatives." Brendan Mc Donagh

Nama have had approaches from Private Equity interests regarding future purchases of acquired loan portfolio's says Mr. Mc Donagh.

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just seeking clarification. who is issueing the bonds?

Irish government?
or ECB?

sweet soluble jumping jesus on a cross.....WE ARE. the irish state, ostensibly acting on the peoples behalf......

[SamVimesBoots]

Lenihen is rocking though. He knows his sh*** whatever else you can say about him.

No he doesn't. He knows how to blow smoke, bluster, obfuscate, confuse and pull all your emotional strings, with great confidence.

But that doesn't mean that anything he is saying has any validity whatsoever.

He's a conman, a snakeoil salesman, a three-card-shuffle small-time confidence trickster, and that is all he is.

He's just spent the last couple of hours talking utter nonsense, flat out lied on many occassions, contradicted himself again and again. A masterclass in assured spoofery sure, but make no mistake it was content-free drivel.

[netron]

Irish government will issue the bond, the ECB will buy the bond. It wont be sold on an open market for some reason, I wonder why?

which means that the interest on the bond will be payable by the Irish taxpayer to the ECB.


And the ECB is becoming an official EU institution if Lisbon is passed.

so you are telling me that Irish taxpayers , for generations to come, will effectively be wage slaves for the European Union.

jaysus. might as well give up and ask the UK if we can rejoin.

[He3]

and a zombie government

[Digout]

which means that the interest on the bond will be payable by the Irish taxpayer to the ECB.


And the ECB is becoming an official EU institution if Lisbon is passed.

so you are telling me that Irish taxpayers , for generations to come, will effectively be wage slaves for the European Union.

jaysus. might as well give up and ask the UK if we can rejoin.

Exactly. Or easier, let current insolvency law do its job.

[BodyofEvidence]

which means that the interest on the bond will be payable by the Irish taxpayer to the ECB.


And the ECB is becoming an official EU institution if Lisbon is passed.

so you are telling me that Irish taxpayers , for generations to come, will effectively be wage slaves for the European Union.

jaysus. might as well give up and ask the UK if we can rejoin.

sigh...First the ECB is already an official institution. ....

Second. no. the interest will be payable to the Banks who have purchased them with a swap for the loans, and the banks who have them will swap the principle to the ECB. I know its complex but the ECB are all that stands behind whatever we can do. Else the banks would evaporate.

[Newsy]

According to Mr.Lenihan it was a small group of developers who fuelled the speculative rise in land prices.
I would add for clarity that they were willingly aided and abetted by the predatory lending practices of banks and a regulatory system that was out to lunch.

This is appalling. Absolutely criminal.

And the taxpayer picking up the tab!!!! And our Government facilitating this scam!!!! The very Government who enabled this situation.

Jesus, is there any conscience left in this Government???? In any member of this Government????