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Posts tagged ‘History of Ireland’

TD succeeds in prodding NAMA into action on developer business plan

By Namawinelake

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/

Comment:

Cronyism is alive and well under Fine Gael and Labour too I see!

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