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Irish Bank reconstruction on ‘Irish Debate’

Categories: Opinion

Abandon every hope, ye who enter here

November 13, 2009 1 comment

Reported today in the Irish Times:

The Minister for Finance this morning said he was not contemplating failure in the operation of the National Asset Management Agency (Nama) following the passing of legislation to create it…

The Bill passed its final stage in the Dáil yesterday by 81 votes to 62.

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The NAMA Bonanza – boNAMzA?

November 8, 2009 4 comments

Writing my last post and thinking about Deputy McGrath’s political speak raised a couple of questions in my mind about the NAMA business plan and so I’ve gone back, yet again, to look at the numbers. I wanted to study closer the argument about the value of the underlying assets and their ability to cover the NAMA loans.

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Categories: NAMA, Opinion Tags:

None so blind as they that won’t see

November 4, 2009 5 comments

Lady S. Not at all; but, you know, there’s none so blind as they that won’t see.
Jonathan Swift (1667-1745, Dublin) A Tale of a Tub and Other Satires (1704)

For those of you who watched RTE’s Prime Time last night you will have seen what happens when a politician meets a banker. If you’d like to hear what happens when a banker meets a banker listen here. I’m reminded of Fiona Looney’s reply to Vincent Browne on his TV3 show last month when asked what she thought of NAMA: “Oh it’s all very honours, isn’t it?”

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Categories: NAMA, Opinion

Dan Boyle’s Seanad Speech on NAMA

November 1, 2009 2 comments
Speech on National Asset Management Agency Business Plan – Seanad Éireann – October 29th, 2009
This debate is something of a cart before the horse exercise in that the National Asset Management Agency Bill will not come to this House until it has finished its passage through the other House, but it is useful in its own right in the sense that the business plan is now part of public debate and this House is only right and proper to address it and those ongoing concerns.

Another Wild Goose (chase)

October 30, 2009 1 comment

I’m writing this post from somewhere on the Irish Sea between Dublin and Holyhead.

For fear of doing a Declan Ganley on it, I won’t say it’s my last. But as I said to the taxi driver this morning as he dropped me to the ferry terminal, I’m looking forward to not thinking about NAMA for a while. Unfortunately, I’m not expecting a limo to be waiting for me when I arrive.

I met Peter Mathews for the first time just this day four weeks ago, as the country went to the polls to vote on Lisbon. We had been invited to participate in a panel of experts on our objections to NAMA. It’s funny how such chance encounters can change your plans. Peter has been very generous with his time and helped me get up the learning curve on the technicalities of our banking crisis. My head now understood what my gut was telling me. And in what might best be described as a Quixotic exercise, I did what I could to help Peter get his message out there.

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Categories: Opinion

Leviathan indeed!

October 29, 2009 9 comments

The anger at last night’s political cabaret in Temple Bar, Leviathan, was palpable. And with my partiality clearly stated, the defenders of NAMA did not hold themselves to account well. The evening got off to an entertaining start, with the best of political satire as only the Irish know how, all resonating with the opinion that NAMA is closer to criminal theft than the contrary.

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