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Thread: Frank Fahey: bank Inquiry would delay NAMA

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    Default Frank Fahey: bank Inquiry would delay NAMA

    He is being interviewed on Newstalk at the moment and is saying that an inquiry will delay NAMA and this will delay lending into the economy.

    He reckons this is because NAMA is taking up all the time of staff involved. An inquiry would decrease the staff available to NAMA (from the banks and DoF), and this would further delay the alleged "lending to the economy" which NAMA will ensure.

    He believes the inquiry should be done by Oireachtas committee after NAMA is up and running.

    FF seem very keen to have NAMA established before an inquiry. I wonder why..

    According to Frank, the problem in the Irish economy is simple. The Regulator and DoF screwed up, and the banking system itself screwed up. Frank, of course, is not responsible for anything, despite the fact that he was a member of government and a small time developer/speculator with close ties to bankers.

    He also pulled the classic FF line of "other countries failed to regulate their banks too"
    We have turned the corner.I commend this Budget to the House. Brian Lenihan, 9 December 2009

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    He is sh*tting himself. I wonder what the real reason is for the delay in NAMA. I hope the EU has got the best team of clinical and mathematical Germans reviewing the proposal documents. The longer the delay the more the market is exposing them. Tee ******************************ing hee....
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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    i turned the station as soon as it started. Ive heard way too much for Fahey on that show to know it would give me a pain across my chest.

    It will be nothing except a stream of lies and nonsense.

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    It would be incovenient to hold an enquiry before a General Election into how your party messed up the entire economy.

    Voters have a nasty tendency to focus on such trivialities.
    My old hen used to say, "Life is like a rooster house. You never know what you're gone to get."

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    Quote Originally Posted by DCon View Post
    He is being interviewed on Newstalk at the moment and is saying that an inquiry will delay NAMA and this will delay lending into the economy.

    He reckons this is because NAMA is taking up all the time of staff involved. An inquiry would decrease the staff available to NAMA (from the banks and DoF), and this would further delay the alleged "lending to the economy" which NAMA will ensure.

    He believes the inquiry should be done by Oireachtas committee after NAMA is up and running.

    FF seem very keen to have NAMA established before an inquiry. I wonder why..

    According to Frank, the problem in the Irish economy is simple. The Regulator and DoF screwed up, and the banking system itself screwed up. Frank, of course, is not responsible for anything, despite the fact that he was a member of government and a small time developer/speculator with close ties to bankers.

    He also pulled the classic FF line of "other countries failed to regulate their banks too"
    Lets just hope that the likes of this type of patronising garbage from Frank Fahey (of that that we are becoming so used to at this stage from him) will only serve to further highlight the unease that a Banking enquiry is creating for Frank and the rest of FF and that the majority of the people in this country are intelligent enough to see this and not to once more buy the hoodwinking lines from Frank and the boys!!!

    He says " the credit into the economy that NAMA will ensure"...sure we all know now that there is absolutley ZERO in NAMA to ENSURE that!!! More FF lies and hoodwinking
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    Of course Frank wants NAMA.

    Register of Members Interests - Dáil Eireann 1 January 2008 to 31 December 2008 - Tithe an Oireachtais

    4. Land ……………………… (l) 2 apts Castlerea, Co. Roscommon: letting; (2) Apartments 8A, 16 Eglington Court, Galway: letting; (3) House at Kilbeacanty, Gort, letting; (4) Apartment at Dun Aengus, New Docks, Galway: letting; (5) House at Dun na Coirbe, Galway: letting; (6) House at Rinawade Close, Leixlip: letting; (7) Shareholding in apartment at Gort na Coirbe, Galway; (8) Shareholding in extended family owned properties at Moydrum, Athlone: letting; (9) Shareholding in 4 Apts and Shop, Lower Gerald Street, Limerick: letting; (10) Shareholding in retail unit, two offices and warehouse at Crowe Street, Gort; (11) House at Jumeirah Estates, Dubai; (12) Dwelling house, The Grove, Crowe St, Gort, Co. Galway; (13) Shareholding in apartment at Tappen St, Boston, Massachusetts: shareholding in Fahey Higgins L.L.C Boston; (14) Five apartments owned in partnership at Rue Paul-Emile, Janson 1000, ten apartments owned in partnership at Rue du Sceptre 1015, Brussels; (15) Apartment at Cathedral Place, Limerick: letting; (16) House at Villefranche, France; (17) Deposit paid and contract signed on property at Porto De Mos, deposit paid on property at Alcantarillha, Portugal; (18) Apartment at Irishtown, Dublin.

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    When NAMA is up and running the golden circle is protected. All the FF appointed advisors such as tax consultants,Accountants,Legal Advisors and Estate Agents( valuers) will be in position. These are the same people that were giving advice and services to both the Banks and the Govt. during the paper tiger years.

    When their positions are protected and their new watwertight contracts have been signed and the old heads have retired to the Bahamas with millions in pensions and golden handshakes then it will be time for an inquiry.

    And better still some minor player will have been unfortunate enough to pop his clogs in the meantime and will be landed withall the blame.

    Standard mode of operations for the paddy gestapo party that have ruled over this country for the last 80 years.

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    He makes delaying NAMA sound like a bad thing.

    Yeah, I wonder what possible reason Frank Fahey would want to halt a banking enquiry.

    P.
    "Ever tried. Ever failed. No matter. Try again. Fail again. Fail better."

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    Quote Originally Posted by FakeViking View Post
    Of course Frank wants NAMA.

    Register of Members Interests - Dáil Eireann 1 January 2008 to 31 December 2008 - Tithe an Oireachtais

    4. Land ……………………… (l) 2 apts Castlerea, Co. Roscommon: letting; (2) Apartments 8A, 16 Eglington Court, Galway: letting; (3) House at Kilbeacanty, Gort, letting; (4) Apartment at Dun Aengus, New Docks, Galway: letting; (5) House at Dun na Coirbe, Galway: letting; (6) House at Rinawade Close, Leixlip: letting; (7) Shareholding in apartment at Gort na Coirbe, Galway; (8) Shareholding in extended family owned properties at Moydrum, Athlone: letting; (9) Shareholding in 4 Apts and Shop, Lower Gerald Street, Limerick: letting; (10) Shareholding in retail unit, two offices and warehouse at Crowe Street, Gort; (11) House at Jumeirah Estates, Dubai; (12) Dwelling house, The Grove, Crowe St, Gort, Co. Galway; (13) Shareholding in apartment at Tappen St, Boston, Massachusetts: shareholding in Fahey Higgins L.L.C Boston; (14) Five apartments owned in partnership (with a former Irish nationwide bank manager currently suspended and under investigation) and a Limerick developer who was lent vast sums by the bank manager under investigation at Rue Paul-Emile, Janson 1000, ten apartments owned in partnership at Rue du Sceptre 1015, Brussels; (15) Apartment at Cathedral Place, Limerick: letting; (16) House at Villefranche, France; (17) Deposit paid and contract signed on property at Porto De Mos, deposit paid on property at Alcantarillha, Portugal; (18) Apartment at Irishtown, Dublin.
    We have turned the corner.I commend this Budget to the House. Brian Lenihan, 9 December 2009

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    Quote Originally Posted by FakeViking View Post
    this one made me laugh

    and not in a nice way either
    “'retail deposit flight, I don't see that as a great danger. Ireland is an island” - Brian Lenihan - to hundreds of international investors

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