How To Bailout The Professional "elite"

[headmelter]

http://www.independe...ma-2254201.html

From the Property Pin. So borrow millions to set up property investment groups - get into arrears of 75% -- then get the taxpayer to bail you out. One day the Irish people will wake up to this disgrace.

The more details that become available about NAMA the more surprised I am that bodies aren't piling up in the Wicklow mountains.

[stormymonday_2011]

http://www.independent.ie/national-news/doctors-lawyers-loans-go-to-nama-2254201.html

From the Property Pin. So borrow millions to set up property investment groups - get into arrears of 75% -- then get the taxpayer to bail you out. One day the Irish people will wake up to this disgrace.

Al Capone could only have dreamed of such a racket.

[Bloo Loo]

Al Capone could only have dreamed of such a racket.

wasnt he caught for tax evasion?

[NorthamptonBear]

http://www.independent.ie/national-news/over-60pc-say-banks-lied-over-nama-loans-2254200.html

Almost two-thirds of the public believe the banks deliberately "lied" to Nama by claiming that 40 per cent of their toxic loans to some of the country's best-known property developers were being repaid, according to a nationwide Sunday Independent/ Quantum Research poll.

The finding graphically illustrates the level of public distrust of, and anger toward, the banks at a time when it is being predicted that a further 2,000 companies will go out of business by the end of the year, in many cases simply because of short-term cashflow difficulties.

The banks are doing little or nothing to counter the impression that they remain institutions steeped in arrogance, aloof from the taxpayers who are to bail them out at a staggering cost of €80bn.

In fact, it was confirmed last week that, in some cases, the banks were still not fully co-operating with Nama.

Indeed, a picture was painted of bankers remaining cosy with household name developers, many of whom continue to live the high life.

It emerged last week that, on examination, only 25 per cent of loans transferred to Nama turned out to be performing, a revelation which has forced the agency to revise downward its prediction that it would make a €4.8bn profit over its 10-year lifespan.

[Sceptical]

This seems to be a textbook case of the well heeled / well connected ******ing over the common man.

I can understand why this isn't mainstream news, but this is the stuff of real revolution isn'it??!!

[Sceptical]

The more I read, the more gobsmacked I am that they are getting away with this.

Banksters, fine. They use all sorts of fancy jargon to confuse everyone, and at the end of the day they always have lots of (your) 'money'.

This is transparent theft, by people with nothing but over-valued property and good connections.

Thank Allah we live in a democracy, so that these things never happen.

Edit: updated rant.

Edited July 11, 2010 by Sceptical