Remember when NAMA was a glint in economist Peter Bacon’s eye? Way back when the Department of Finance was, according to Wikileaks, hinting that the haircut on loans would be closer to 50%? And when one of the greatest concerns was that this colossal new agency, the biggest quango in Irish history, would fall prey to cronyism and the sort of skulduggery that has long been a feature of public life in this country? This concern was going to be countered by strict NAMA anti-lobbying legislation that could land you in prison if you set out to corrupt NAMA’s purpose. And so it came to pass that section 221 of the NAMA Act tried to put pay to the gombeenism that has characterisedIrish life for decades if not centuries.
read full article at source :http://namawinelake.wordpress.com/2011/09/07/td-succeeds-in-prodding-nama-into-action-on-developer-business-plan/
- NAMA has now approved the disposal of €3.9bn of assets, 52% of the €7.5bn target for end-2013 (namawinelake.wordpress.com)
- 72% Haircut For Irish Nationwide loan transfer to the NAMA (politics.ie)
- Paddy Honohan, the Irish Central Bank and Justice for the Irish People (thepressnet.com)
- Battersea Power Station for sale by NAMA? (thepressnet.com)
Cronyism is alive and well under Fine Gael and Labour too I see!