"this ridiculous NAMA plan"

[Tankie]

BOI shares trading at 3.23 - 3.25 up 30 odd today and up from a low of 12c in March 09 (just before NAMA was conceived of).
AIB shares trading at 3.32 - 3.38 up 70 odd today and up from a low of circa 20c in March 09.

Surely that tells us all we need to know about this 'ridiculous NAMA plan'.

I still think these shares have to major sells as their current valuations would appear irrational given the write-offs coming down the line, and just wait until residential loans start hitting trouble, which will lag the other problem loans.

Exactly. The banks are sorted and we, the taxpayers, are fooked. The market is laughing at us.

By the way on the SF guy - a total clown who achieved nothing. He only highlighted what we knew already - SF are a joke party with no policies and no answers.

how exactly are the tax payer fooked?

[Zapatista]

SF are a joke party with no policies and no answers.

Maybe you just haven't seen their policies. Answers to what, the economy? If so yes they do, you should look them up (they may not be the right answers but they are atleast as accurate as NAMA). Not only that but they were asking the questions about stability on the economy before everyone else. They proposed a State bank back in the 90s. That's 12 years before Labour proposed it and 11 before FF did it. None of this makes them right but it does make them relevant. I don't think they could run the economy but I do think the could be a helpfull addition when its being discussed.

You can think they are a joke and that's fine, I think FF are a joke. The rest you made up though.

[magpie seanie]

FF are also a joke, I agree.

[Rossie11]

McWilliams in Indo yesterday.
Entertaining but he hits nail on the head

http://www.independent.ie/opinion/columnists/david-mcwilliams/were-the-hostages-to-fortune-in-nama-drama-1887179.html

[Gnevin]

SF are a joke party with no policies and no answers.

Maybe you just haven't seen their policies. Answers to what, the economy? If so yes they do, you should look them up (they may not be the right answers but they are atleast as accurate as NAMA). Not only that but they were asking the questions about stability on the economy before everyone else. They proposed a State bank back in the 90s. That's 12 years before Labour proposed it and 11 before FF did it. None of this makes them right but it does make them relevant. I don't think they could run the economy but I do think the could be a helpfull addition when its being discussed.

You can think they are a joke and that's fine, I think FF are a joke. The rest you made up though.

It's not only state banks our socialist comrades in SF have proposed in the past.

[botman]

SF are a joke party with no policies and no answers.

Maybe you just haven't seen their policies. Answers to what, the economy? If so yes they do, you should look them up (they may not be the right answers but they are atleast as accurate as NAMA). Not only that but they were asking the questions about stability on the economy before everyone else. They proposed a State bank back in the 90s. That's 12 years before Labour proposed it and 11 before FF did it. None of this makes them right but it does make them relevant. I don't think they could run the economy but I do think the could be a helpfull addition when its being discussed.

You can think they are a joke and that's fine, I think FF are a joke. The rest you made up though.

We need a strong left as regulation in world economies is required. I don't believe either SF or Labour have the answer.

Why do I feel all Marxist and dirty after that statement?

[Tankie]

BOI shares trading at 3.23 - 3.25 up 30 odd today and up from a low of 12c in March 09 (just before NAMA was conceived of).
AIB shares trading at 3.32 - 3.38 up 70 odd today and up from a low of circa 20c in March 09.

Surely that tells us all we need to know about this 'ridiculous NAMA plan'.

I still think these shares have to major sells as their current valuations would appear irrational given the write-offs coming down the line, and just wait until residential loans start hitting trouble, which will lag the other problem loans.

Exactly. The banks are sorted and we, the taxpayers, are fooked. The market is laughing at us.

By the way on the SF guy - a total clown who achieved nothing. He only highlighted what we knew already - SF are a joke party with no policies and no answers.

how exactly are the tax payer fooked?

anyone able to tell me how the tax payer is focked with this plan?

[Zapatista]

anyone able to tell me how the tax payer is focked with this plan?

We are paying more than it's worth. We will sell back to the developers as soon as (if) the assets regain strength for them to sell back to us at inflated prices. Either way we pay now as tax payers and then we pay again to buy property we just owned.


POLL ADDED

[muppet]

anyone able to tell me how the tax payer is focked with this plan?

Here's a clue Tankie:

(When you look at this imagine if we need to borrow money for anything else  )

[Bord na Mona man]

anyone able to tell me how the tax payer is focked with this plan?

The whole thing is predicated on a quick bounce-back of the property market.
It isn't gonna happen. Even if the country's finances hadn't imploded and unemployment surged, the property market was going to collapse anyway.

All those apartments in Leitrim, hotels in Longford and half built estates in Roscommon that we are now saddled with are as useful as tits on a bull.

[Zapatista]

One of the best spins used is "when the property market recovers" 

It has recovererd. Recover means to return to a normal state. For these spinners it seems to mean  to return to mad crazy high prices of 2007. Property was never worth what is was valued at in 2007 yet this is were they want to recover to. And so the circle of ffeconomic continues. Is it any wonder recession is a normal part of an economic cycle.  :DThey have designed it to be like this.

[Tankie]

but whats is the better option? from what i read the FG option would take years to come in and may not work and nationalisation would be crazy as nody would lend to us....is this not the best of a bad bunch?

[Zapatista]

but whats is the better option? from what i read the FG option would take years to come in and may not work and nationalisation would be crazy as nody would lend to us....is this not the best of a bad bunch?

No. FG's could be brought in very quickly as we already own a bank and it would be a matter of transfering the bad loans. Something which NAMA has to do anyway. NAMA may not work.  If you thimk it's the best of a bad bunch then this Country is in serious trouble 9Which it is). The least we can expect is a good plan to help us out of this mess.

[fearbrags]

The people who  think  it  is  best  of  a  bad  bunch  are  Fianna  failers  and  they  believe what  ever  the  biffo  and  lenny  say  ,  and  they  will  vote  for  them   every  time

[Farrandeelin]

I honestly don't know if it's good or bad. Every second one says it's either good or bad.