Friday, September 18, 2009

Enter Nama!!

We now know someting of the infamous Nama proposals.€54 billion is to be coughed up by the unfortunate taxpayer for the most unwanted bits of real estate and property in the world.This is by far and away the greatest single investment ever made by any sovereign government relative to economic size. It is a reckless punt into the unknown made on our behalf by politicians who were the very people who underpinned the whole fiasco in the first place.

If the downside of the deal prevails then the cost to the taxpayer may be as much as €20 billion. Each of us is donatig some tens of thousands of euro to a dead duck which will give us nothing in return.

Is it too late to pull back from the brink of such economic madness?

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