NAMA - A View from Inside the Green Party

[OceanFrog]

Arthur Doohan, a Green Party local election candidate has called for the Green’s to stop supporting NAMA. Arthur Doohan says on his blog "the Minister of Finance has turned himself into a cartoon character – like ‘Wily Coyote’ trying to catch a piano that has fallen off a cliff. He will end up getting crushed."

He also says on his blog ... "NAMA is seen by most as an attempt to prop up the fate of the ‘Golden Circle’. Whether it is or not, that perception is damaging the fabric of democracy in this State. The risks are being borne by the many for the few. The real risk is that the country is being set up for more than a decade of stagnation which will squander the achievements of the Celtic Tiger rather than 18 months of radical surgery."


And before the smearing of Arthur Doohan begins by the usual suspects, the guy was a Green Party local election candidate, has worked as an international banker and derivatives trader in London in the 80’s and 90’s for European and American banks where he managed multi-billion interest rate risk portfolios and priced some of the earliest derivative contracts ever done there.

[spidermom]

BUT????.......Will the inside look out??


Have posted on another thread that Nama could result in the type of "unsustainable" developement being replicated simply so that Nama will see a return....How COULD the Greens stand over this!!!!

[OceanFrog]

More from Arthur ...

To quote his blog ... "they need to know that they are ‘betting the farm’ on NAMA and that is something that they do not understand and it is something that goes against the grain of everything the Greens believe in and it is something that will determine every single other opportunity and decision in this State for the next 15 yrs."

[OceanFrog]

How COULD the Greens stand over this!!!!

The Greens will do as their FF masters tell them.

They will stand over anything to stay in power no matter how corrupt, unjust, immoral, or just plain stupid it is.

They are indistinguishable from FF.

[spidermom]

Was Arthur not at the conference then Ocean????...Might have thought to put these questions down then...as opposed to tweeting them??

[OceanFrog]

More from Arthur ...

"This proposal (NAMA) was not on the table when we had our Convention. It has not been discussed by the Green Party. We are being asked to bet the farm on behalf of this and future generations by the biggest gamblers in the land. FF deals and strokes have a history of benefiting the few at the expense of the many – just look at the deal with religious orders. We need to discuss NAMA before committing ourselves to possible financial ruin. I will oppose it when it come befores the Party, hopefully at a Special Convention."

[OceanFrog]

Was Arthur not at the conference then Ocean????...Might have thought to put these questions down then...as opposed to tweeting them??

I'm not sure. Maybe someone can confirm this?

[PaddyJoe McGillycuddy]

Karl Whelan was invited to do a presentation to the Green Party Economic and Social Group(whoever they are) last week. See the link:
http://www.karlwhelan.com/IrishEcono...esentation.pdf
Whelan is one of the most respected economists who have have kept an up to date chronology and analysis of the bank bailout on irisheconomy.ie. The presentation sums up the main issues in clear terms. He was also on Prime Time this evening making the very valid point that there is absolutely no taxpayer insight into what is going to happen in the cosy world of Banks + Developers+ NAMA over the next 10 years

[OceanFrog]

Arthur has one wish from his fairy God Mother ...

Wouldn’t it be nice if John Gormley grew a pair and stood up in the Dail and said ... "We have extended every assistance to the banks and have found them to be recalcitrant, dilatory and in much worse trouble than they originally stated. They do not deserve any further assistance than we have already extended. They have 18 months left of our Guarantee to sort themselves out. If unfettered unregulated Capitalism is so powerful, let it be seen to work now. The Green Party will not vote to provide funds to NAMA, it is a dead letter. If the banks are still in trouble when the G’tee expires we will ready to rehabilitate them after they go bankrupt."

[OceanFrog]

And finally from Arthur...

"Good luck to us all – we are going to need it".