The current Irish Government are responsible for the financial disaster the country is in,
With the establishment of NAMA the Government is trying to socialize the enormous losses that the Banks and their Developer buddies have encored.
Corruption is rife and now a new monster burocratic system is being created, where X politicians will have jobs for life and the same corrupt developers will be able to manipulate the housing market all over again
While the people are being robbed of their homes, savings, pensions, and education for their children, that same gangsters are running the country
This has to stop!
Join the CAB to-day and get things moving
Come on! Get active in your own area now!
We as a country need new faces and not the same old tired faces that have being around using the system to suite themselves.
Archive for the ‘Irish Supreme Court’ Category
The seven companies, Vantive Holdings, Morston Investments, Villeer Developments, Paytor Developments, Carragh Enterprises, Parlez International and Royceton controlled by developer Liam Carroll, that had a second application for High Court protection refused last week are now going to appeal that decision to the Supreme Court again
The group’s original application was turned down by the Commercial Court and the Supreme Court.
Last Thursday, the High Court refused a second application for examinership by the seven companies.
Has it occurred to anyone that we are seeing a pattern of behaviour here? Lisbon 1,
Lisbon 2, Lisbon 3? Lisbon 4?
For Liam Carroll
it would seem if you don’t get the results you want just keeping going back again and again, everybody knows that this is just moving around the deck chairs on the titanic
This is also making a mockery of the Supreme Court.
The message is coming out loud and clear
There is one law for the Rich and one law for the poor in this country .There is special treatment for the super rich and the poor are just kicked out of their homes dumped out on to the street
I these crooks in the Dail manage to push through NAMA then I propose that all home owners in the country create one large housing association and then clam the same protection for all householders in the country this should stop all evictions and people who are about to lose their homes should be able to say to the banks to come back when the property market has recovered to the previous levels
This should give the same protection that is being given to the Banks and developers to all the citizens of the state
Scaremongering but who’s doing it?
Finance Minister Brian Lenihan also warned yesterday that if Irish voters snubbed the treaty the result would “shatter international confidence” and lead to continued scarcity of funding and increased borrowing costs.(Looking for a yes vote)
A ‘No’ vote in next month’s lisbon Treaty referendum could result in the interest bill on Ireland’s national debt jumping by up to €900m a year according to Indecon
(Looking for a Yes vote )
A NO vote in the upcoming Lisbon Treaty referendum would represent a “spiritual withdrawal”, from Europe, Minister for Finance Brian Lenihan has warned. (Looking for a Yes vote)
A Yes vote in the referendum would earn Ireland the continued goodwill and support of the EU in tackling the banking crisis, he added.
Mr Gormley “It would be entirely counterproductive to vote “The whole emphasis in terms of the European recovery is a green recovery [which can provide] jobs, jobs, jobs.” Echoing the sentiments of other pro-Lisbon political leaders, “It would be a huge mistake to focus on national issues when this is a campaign to get us out of recession,” he said. (Looking for a yes vote)
How to win a referendum:
1. On top of high VRT, introduce a Green (Party) carbon tax, and just to be on the safe side, impose a €200 a year work parking tax, just for daring to have a job!
2. Make the citizens vote a second time, even though they said No – but make sure you don’t change the wording.
3. Have on the Yes side a millionaire car salesman, like Bill Cullen, who opposed changes to the infamous VRT, and is the biggest over priced merchant for the Renault spear parts in the country(Nice one Bill!)
4 . Have Ryanair on the Government side, who are best known for their F-Service , saying there are a millions reasons to vote Yes (excluding taxes and charges), and (Baggage charges Now approaching 100 euro per bag) then have the same Government introduce a €10 travel tax, contrary to EU law of freedom of movement between member-states.
5 . In case the European Central Bank doesn’t hype up mortgage rates any time soon, re-introduce water rates and a property tax on every family home in Ireland, while at the same time making taxpayers bail out the bankers and the builders.
6 . Make sure Brian Cowen leads the Yes campaign.
7 . Have crooks running FAS
8 . Have people like John O’Donoghue become Ceann Comhairle in the Dail
9 . Create Toxic Banks to help your buddies in the Banks and the Building
10 . Keep corrupt Politicians in places of power
11 .TAX the Sh*** out of the ordinary people
12 Tell them you are going to crucify them in the coming December Budget
13. Make a complete mess of the Economy, and blame it on the ordinary people
For having paid extortion prices for their own homes
14. Put a Tax on those homes, let say 1000 Euro on average for every home in
15 .when you hold a referendum keep going back to the people until you get the right result (the one you want)
Keep corrupt Bankers in their High paying Jobs at Bankrupt Banks
17. Allow these same Banks (Now with Government appointed Directors) to
Overcharge their own customers, and then, clam that it was a computer error when found out.
18. Allow dodgy Building Developers stroll into the courts of the land and present fantasy valuations as a means to dance around The Supreme Court rulings
When 80 families are turned out, and lose their overpriced homes every week, sold to them by these developers in the first place
19 . Make it blatantly obvious, that there is one law for the rich, and another law for the poor in this country
20. Tell everyone that NAMA is the only game in town and we the people must pay the gambling debts of the super rich of the country.
That should do it!
Up to 25 bank directors will be forced out under the NAMA deal.
The Cabinet yesterday signed off on the latest draft of the laws to bring in the Government’s ‘bad bank’.
Ministers agreed on a way of sharing the risk between the banks and the taxpayer.
It includes a form of delayed payment to the institutions for their toxic loans. In a significant departure, Fianna Fail last night allowed the Greens to take credit for the changes to the NAMA bill.
Part of the package of measures to reassure the public is the removal of the remaining directors from bank boards, as revealed in the Irish Independent yesterday. The Greens’ demand on the introduction of new bank board’s was agreed in principle by ministers, but precisely how it will be done has still to be worked out. Communications Minister Eamon Ryan stressed that the removal of the directors would be “an orderly changeover” over the course of two years.
All non-executive directors of the banks participating in NAMA will, if appointed prior to 2008, be required to step down. That will affect up to 25 bank directors in AIB, Bank of Ireland, EBS, Irish Nationwide and Anglo Irish Bank.
Irish Life and Permanent directors will not have to resign as it is highly unlikely to apply to be covered by NAMA.
Mr Ryan indicated the Greens pushed hard with their Fianna Fail counterparts to get their proposals included.
And he hinted that his party will play a greater part in the broader development of government policy from now on.
A large number of directors of the banks have remained in place since the crisis began last September, at the time of state bank guarantee.
Many of the non-executive directors command in excess of €100,000 for sitting on the board.
The Greens are also claiming credit for a windfall tax of 80pc, on profits gained from increases in land value due to re-zoning decisions, to discourage property speculation.
The party is also saying it is responsible for linking planning changes into the NAMA process and bringing in new rules governing corporate practice in the banks. The junior coalition partners were allowed, by Fianna Fail, to announce the changes. The party has a meeting with its grassroots members at the weekend to discuss the NAMA legislation.
The Greens being giving a free run is a sign Taoiseach Brian Cowen is conscious of the need to keep his partners onside to prevent the Government from collapsing.
The Greens’ ministers will offer the cull of directors, the reassurances to the taxpayer and the planning changes as a sweetener to members to back NAMA. The second draft of the NAMA legislation will be published today.
Officials are still working on rules to force the banks to lend money to businesses after NAMA takes the toxic development loans off their books.
Meanwhile, Fine Gael called on the Government to publish the “NAMA 1,500” — the people that will be beneficiaries of the NAMA plan, so the taxpayer can see who is being bailed out.
FG finance spokesman Richard Bruton said at its core NAMA is a “secretive, tax-funded, politically directed work-out process for 1,500 of the most powerful, well connected business people in Ireland“.
The IBOA also has called for sweeping changes to the make-up of bank boards as the finance union give a conditional support for the Government’s ‘bad bank’ plan.
– Fionnan Sheahan and Joe Brennan
Mr Brian Lenihan said today NAMA may lead to the government taking bigger stakes in the financial institutions.
Should the losses of the banks be on a very large scale, a “substantial stake” would have to be taken, the minister said. The valuation of the assets will be based on a “long-term valuation which is realistic,” he said, adding in some cases that means land will never go beyond its agricultural value.
“Of course if the consequence of the valuations is that the banks suffer losses which destroy their capital base then of course of necessity the State will have to provide that capital and increase the public stake in the institutions concerned,” The minister said he doesn’t expect to nationalize the institutions “in their entirety.”
Examples of double talk “Long-term valuations”, “go beyond its agricultural value”,
“In their entirety.”
What we are hearing here is that Mr.Lenihan hasn’t got a clue!
Since the last time the Minster bought a stake in the bank’s the share price of these Banks have gone up at least 9 fold and the value of the States shares are still the same, because the minster has a clause in the agreement with the banks, for them to buy the States shareholding back at the purchase price the state paid for them
So there is no upside for the Taxpayers
Who is kidding who?
email@example.com to me
show details 7:10 AM (10 hours ago) Reply
Thank you for your e-mail regarding NAMA.
Fine Gael will oppose the NAMA legislation published by Government as currently drafted, because it is a request for a €90 billion blank cheque to gamble our children’s future by buying toxic developer loans from banks at inflated, sweetheart prices, and because this approach will not generate the immediate improvement in credit conditions that our small business sector desperately needs.
We believe that there is a better way. If restoring credit flows is the prime objective of banking policy, taxpayer investment in a new, State-owned bank with a clean balance sheet and an appetite to lend, such as Fine Gael’s proposed National Recovery Bank, would be far more likely to succeed at a fraction of the risk. Future losses by the banks should be absorbed first and foremost by their investors and bond-holders, not by the Irish taxpayer
Denis Naughten TD
This latest attempt to bypass earlier supreme court’s judgment on this matter is an abuse of the process of the court and no ordinary member of the public could have even dreamed of getting away with this typical stroke,
that could have being dreamed up in the back rooms of the Fiannia Fall mafia ridden lenster house!
Since Mr. Liam Carroll has now got the right decision (the one he wants) from the courts there is now a good chance that we the taxpayers in the country will have to foot the bill for his debts!
there has never being a better example of one law for the rich in this country and one law for the poor ,the people that have lost their homes during this week and all that will lose their homes in the months to come
We the ordinary people must not let this corrupt system walk all over us
This decision makes a mockery of the rule of law and questions the whole notion of equality within the Irish legal system, and the Irish regulation of its financial system!
It is no better that a binNAMA republic!
For more information on no to NAMA pleases follow this link
Please note I have no affiliation to this group !