Search Results for 'National Asset Management Agency'

A leading London-based economist this week that temporary nationalisation of Ireland's banks and not the Government's NAMA plan is the best option for the country.

Firstly I’m far from an economist, I’m not even an amateur economist, dabbling in the social science in school and third level made sure that my economic genius would not see the light of day in the business or academic world. But even I can still recognise that when 46 highly qualified academics sign an article in a newspaper, it might be worth having a look at what they are saying.

Small and medium sized businesses which have been refused credit by the banks are being asked to take part in an online poll by Fine Gael senator Fidelma Healy Eames.

As thousands of families run into mortgage problems and the latest High Court data shows that as many as 100 repossession applications are being heard each week, Fine Gael senator John Paul Phelan has called for Fine Gael’s home owner support scheme to be implemented now.

The shock of Ireland’s economic collapse has abated. The anger is now starting to gain heat. It is disingenuous of the Government to repeat the mantra that now is not the time to look back and apportion blame, but to look forward to ways in which we can arise again. As we are all taught through the history books, it is only by looking back that we can learn and move forward. Half-hearted apologies by the Taoiseach Brian Cowen, prompted only by the prodding of RTE’s Ryan Tubridy on the Late Late Show, do no appear to wash with the electorate. Who will hold their hands up, be accountable, and take the rap?

Just over a year since the Lehman Brothers filed for bankruptcy causing financial shock waves throughout the world, with the crest of these shock waves forcing Ireland into a deep recession, the Government’s legislative resuscitation for our economy, through the establishment of the National Asset Management Agency to purge the five financial institutions in the country — AIB, Anglo Irish Bank, Bank of Ireland, EBS Building Society and Irish Nationwide – of toxic loans which were incurred during the property boom, has begun.

Just over a year since the Lehman Brothers filed for bankruptcy causing financial shock waves throughout the world, with the crest of these shock waves forcing Ireland into a deep recession, the Government’s legislative resuscitation for our economy, through the establishment of the National Asset Management Agency to purge the five financial institutions in the country — AIB, Anglo Irish Bank, Bank of Ireland, EBS Building Society and Irish Nationwide – of toxic loans which were incurred during the property boom, has begun.

The economy is in recession and the banking system has failed, but the Government’s only solution is to “revive a model that has failed, rather than to totally reform the system”.

Having survived the Lisbon Treaty vote last weekend, An Taoiseach Brian Cowen will have yet another bout of nerves to contend with this weekend.

Labour Party president Michael D Higgins has sharply criticised the Government’s proposed ‘business plan’ for the NAMA, saying he would not accept such a “document from a first-year university student”.