Have Your Say Forum
    • Topic:
    • Nama -
  • To: All
  • Message 1 of 2,
  • posted on 03-Nov-2009 23:05
banking expert on primetime tonight says we haven't a chance of recouping the loans we are buying from the banks for nama.
he said, for example, even good performing 'rolls royce' loans don't hold water under the government's calculations.

He said 30.8bn will be collected from good loans - ie all the property developments that are safe. a preforming 'rolls royce loan'.

But he said many of the loans were not 'rolls royce' even though they might look so.

He named "A retail household shopping centre with household names in the uk." he said the banks had a 72m evaluation a couple of years ago which is now evaluated 43 mn.

he said the bank has said the loan to the shopping centre is no longer a 20 year loan, its an 18 month loan.

he said this was opened in last few years. he said the evaluations by the government don't include stuff like this. wonder which shopping centre he meant, anyone know?

that's why this loss to us the tax payer from day one is all wrong
  • To: All
  • Message 2 of 2,
  • posted on 04-Nov-2009 00:58

Nama and our good government minister must have their collective heads stuck up their rectums. To bail out the banks at the price they recommend is a idiocy that beggars belief. The banks have written in 9 thousand million euros for their interest, which would have been their profit if they hadn’t screwed up and we are supposed to overlook their mammoth blunders and reward them for incompetence.

Any small shopkeeper could run a bank more efficiently the present bankers just by following the basic business principle that ‘you can’t sell what you don’t have’, they lent money that didn’t even exist and without reasonable collateral and to whoever. Also no small shopkeeper would skim off a fat bonus when things get tight.

Any normal housewife could run our government a dam side better than the present incumbents. What woman wouldn’t have a little something put away in the coco tin or the tea caddy for a ‘rainy day’; Mr Cowen didn‘t even have loose change when the preverbal hit the fan and after how many years holding the purse strings.

And nobody in their right mind would pay more than double for any commodity, let alone dubious institutions like banks, except, of course if it wasn’t their own money they were spending and if they weren’t on a handy little backhander.