Top sentance is well, just ridiculous! the majority of AAMer clearly want Morgan Kelly's argument to be proved false by debate or other opinion.. so far we get John Bruton's clearly pro-banking statement in yesterday's Irish times... the opinions on blogs below piece are generally scathing. I have seen nothing else from any other economist yet that clearly knocks out Kelly's argument..the tiresome arguments on offer here do little to presuade.
Forget about what NAMA has paid for anything. If NAMA sells all it has in the morning they would get some money from their assets. He (Gurdy) was pointing out that NAMA would generate nothing so write off anything that could be salvaged. For what it's worth the other guy was painting all to be rosy and I don't agree with that either.I thought NAMA was worth nothing... i.e, it's self funding.
They borrowed 80 billion say, to purchase 160 billion worth of bad loans, which are worth 80 billion now, and which they paid 80 billion for.
Like this one? http://www.finance.gov.ie/viewdoc.asp?DocID=6292I think he means war bonds or a kind of Marshall plan. Given there's a fair bit of money in the country, the gov.t could do worse than offering a bond with a guaranteed decent return!
I think people still haven't woken up to the fact that the country is in serious trouble. Kelly's articles provide the shocks that Irish people need to wake us from our slumber.
I do believe most people are slumbering or in denial. Well the people who have kept their jobs or haven't emigrated yet. They just think the problem will go away if they ignore it. Maybe its the best approach but I dont think so.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?