Where have all the performing loans gone?
August 7, 2010 by namawinelake
The last two weeks have seen suggestions that perhaps as much as €8bn of largely performing loans that were NAMA-bound will no longer come within the agency’s control, which would be very bad news for NAMA’s finances.
First we found out that NAMA had agreed not to transfer Paddy McKillen’s loans pending the outcome of Paddy’s judicial review proceedings which are scheduled for October 2010, though with appeals, could take considerably longer. This week we learned Paddy’s Metrospa Limited has sold a property on Old Bond Street in London for GBP £18.2bn and also that another of Paddy’s companies Maybourne has been “inundated” with expressions of interest to provide finance that might redeem the €600m-odd Anglo and Bank of Ireland loans apparently outstanding to the group. Come October, Paddy mightn’t have any NAMA eligible loans. Paddy has assured us all his loans are performing. Paddy has an estimated €800m outstanding to Anglo alone and exposures with at least one other NAMA bank.
full articel http://www.namawinelake.wordpress.com
We are slowly been subjected to a gradual change of what NAMA was supposed to be
With the siphoning off the entire choice bits (performing loans) and leaving the toxic stuff in NAMA for the taxpayers, don’t be surprised to hear calls from the Insiders for a new bank and guess who will have a major share holding of this New bank why our old corrupt pals in Allied Irish Bank, Irish Life and permanent and Bank of Ireland
This will conclude the socializing of all the toxic assets and the privatisation of the profitable assets
This is stealing on a massive scale and no one will do a thing about it
Or will they?
stop this wholesale fraud now.
Leo sent this to me to -day
Today in this country there are many who are suffering as a result of the mismanagement of our institutions with the wholehearted approval of a corrupt government yet we are behaving like lambs going to the slaughter.
What is wrong with us?
Twenty years ago the world celebrated the fall of Communism, a political system that controlled the citizen with an iron fist. I don’t see much difference in the political system here in Ireland where we have been conditioned by the Media and ‘Spin’ doctors.
For some reason or other, except for people like Thomas, we are accepting the situation we are in lying down. Why are we not up in arms demanding for heads to roll. Why should these Thugs, and thats all they are, who got us into this situation continue to be in power. Why should bankers who mismanaged our hard earned money continue to hold senior positions in the banks….they should be in jail.
Those ‘decent’ individuals in the Fianna Fail party, in the Greens and Independents who are supporting this government are all just as guilty.
If we lived in a truly democratic society putting off byelections for over a year would not be tolerated; corruption would not be tolerated; fiddling expenses would not be tolerated; people lying in trolleys in our hospitals would not be tolerated; the present rip-off culture would not be tolerated.
I am calling on everyone who loves this country to join me and get these Thugs out.
contact e-mail email@example.com
Sharp rise in Live Register figures
The number of people on the Live Register in July climbed by 8,500 to 452,500.
Read the report
The Central Statistics Office said this was the biggest rise in the seasonally adjusted figure for a year.
Women accounted for more than half of the increase.
The unadjusted figure showed that there were 466,800 people signing on, an increase of almost 14,000 from June.
The CSO said the unemployment rate rose to 13.7%, from 13.4%, in June.
The data also shows that the largest number of people signing on were professionals, who made up more than a fifth.
The next largest increase was in the category of clerical and secretarial workers.
The Live Register includes some part-time, seasonal and casual workers.
It is not designed to measure unemployment, though it is regarded as the most up-to-date indicator of the state of the jobs market.
Minister for Social Protection Éamon Ó Cuív said that while the figures are at a very high level, it was worth noting that the figures rose more slowly in July than in June.
He said it showed that the Government’s hard choices had brought stability to the economy.
On long-term unemployment, he said two out of every three unemployed people leave the Live Register within six months of signing on.
However, Labour’s Willie Penrose said the figures proved that solving the jobs crisis had dropped to the bottom of the Government’s agenda.
He said the Fianna Fáil-Green Party Government was like ‘a deer caught in the headlights’, when it came to tackling the problem.
Sinn Féin’s Arthur Morgan said the prognosis for recovery was ‘dire’.
The Irish Congress of Trade Unions said the Government’s policies of massive cuts were deflating the economy.
The statement concluded that further deep cuts in the Budget and panic reactions to sell-off the family silver would only exacerbate the crisis.
NCB Stockbrokers economist Brian Devine described the data as discouraging.
While small business lobby group ISME said the true extent of people losing jobs was obscured by emigration.
Its chief executive Mark Fielding said a whole generation of young education Irish were becoming economic migrants.
Separate figures from the Department of Enterprise, Trade & Innovation show that redundancies are running below last year’s levels, though the figures remain high compared with 2
5,298 lay-offs were notified to the Department in July, down 15.7% from the same month last year.
For the first seven months of the year, redundancies are down almost 20% from the same period last year at 39,105.
This is still, however, not much less than the 40,000 recorded in the whole of 2008.
A message from someone dumped on the scrap-heap
No matter what way you try to spin out of these figures Mr. Ó Cuív they are still not the true figures which I believe to be in and around 675,000
You and the rest of the current government squatters and the rest of the political establishment should hang your collective heads in shame!
To the people of Ireland I beg you
For God sake please do not vote any of the current TD, s back into office
let’s have a complete clean sweep .
Gardai may probe Callely expenses
(UKPA) – 2 hours ago
A Green Party TD has lodged an official complaint with the gardai about the expenses claims of controversial Senator Ivor Callely.
Paul Gogarty, who has written to the Seanad complaining about the politician’s alleged conduct, went to Dublin’s Lucan Garda Station asking for an investigation to be carried out.
Fianna Fail suspended Senator Callely from the party on Tuesday as it launched its own probe into his expenses after fresh allegations that he had used forged documents to claim from the Oireachtas.
This latest grandstanding by this foul-mouthed TD is laughable
If he really has an ounce of credibility he should report the con artistes in the Cabinet to the fraud squad and the CAB should be called in
These crooks have robbed the Irish taxpayers of billions of euro to bail our corrupt Banks and dodgier Developers and are still allowing the same corrupt banks to charge 300% and more on mortgage interest payments to their hard pressed and bewildered customers
This TD (Paul Gogarty) has sold out every core value he had in order to hold on to power and the perks he now enjoys at the expense of the betrayed taxpayers of this country.
In my eyes he is no better that Callely and the rest of the cronies and leaches that populate the senate and the Dail chamber
I call on all TD, s to publish in their entirety all the expanses and recipes so the general public can see for themselves who is calming for what
This should be done on the internet and Kildarestreet .com would be an excellent platform for the Ladies and Gents who proclaim to be public servants .
Please send your TD,s an e-mail calling for them to publish their entire expenses now on the web
If you are a multi National company the good news is the same crooks are still in power and I here they are strapped for cash and you can pick up the countries electrical supply company that enjoys a monopoly for peanuts along with some other choice bits of infrastructure so get on the phone and call me here at home and I’ll tell you another bedtime story .
general election now!
Absolutely nothing has changed almost a year later
Cowen is still in charge and is still the 4th most highly paid politician in the world
Just think about that.
Dr. Constantine Gurdgiev sets out the real numbers and they speak for themselves
we are kidding ourselves if we chose to ignore these facts
The insiders still hold all the power in this country and they are responsible for the mess we are in
They are also trying to convince the people of Ireland that they have the answers to our problems
How depressing! We must wake up and rid ourselves of these incompetent baboons that are ruling our country