Yes they are laughing at us as they transfer their properties to their spouses/children, as they hide funds in Switzerland, Caymen islands etc and keep the contracts for the good deals out of company a, b, c to z but into another vehicle and later when NAMA is up and running it will be them buying the properties back at bottom doller rates as they'll be the only ones with any money.
Just need then to get the government to get some new tax reliefs for property development in the future to 'stimulate' the lacklustre property market and get the economy going.