Assets bought by people with connections to the original borrower
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Or indeed, the original borrower.
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Or connections to the liquidator/receiver
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Trouble is, they were only available to the VIP channel. NAMA was surely one of the most âopaqueâ shall we say, bodies ever created in the history of the state, which has an outstanding track record for corruption.
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Beautifully and accurately articulated. We were a real country even as late as then.
Plus ca change and all that.
Didnât Peter Robinson have his snout in the trough there as well?
Nama aaa mental. Sold even the most lucrative properties at knock down prices. It was really a case of âEverything Must Goâ.
Noonan presided over that with the Troika dictating it.
Ireland is considered to be in the top 10 least corrupt countries in the World. It is a very transparent country to do business in. Most of the corruption issues that were brought to light in this country occurred over 30 years ago.
I would say there was little to no corruption involving NAMA down here. Far from being âopaqueâ it was subject to intense scrutiny and pretty well all of its assets were sold through public tendering/bidding processes.
This might be one for the unpopular opinions thread.
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Frank Connolly in Nanaland would beg to differ.
Although he may have an axe to grind.
NAMA were set up before Noonan came to power. The assets were sold by public tender/bidding so the price achieved was by definition the market value at the time. The Agency returned a significant profit to the State.
He can beg to differ all he wants. However NAMA was one of the best run agencies ever set up in this State and against the odds and amidst much scepticism is one of the few State agencies to fulfill its mandate to the letter.
Thatâs not what @flattythehurdler conveys to the residents of Didsbury
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Iâm afraid it is. I have some good second hand knowledge of the workings of NAMA and accessing their portfolio (Matty). I think you are wrong.
it would seem so
Would first hand knowledge of the workings of NAMA be more reliable than some tittle tattle picked up over the last of the grand mariner tira misu?
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I think the difference is these lads werenât happy to make their cut but they wanted to be paid at every end of the transaction
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Maybe the problem was the mandate.
Sell all assets now. Donât even consider which may be of future strategic importance.
Itâs pretty easy to do in fairness. I am not sure what is hugely admirable about their work.
Wasnât the old Bank of Ireland HQ in NAMA, bought by Larry Goodman and then rented back to the Department of Health at what I am sure was a handsome rent ?
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You can be sure of it.
Iâll not tittle tattle on here
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I know a fella that was a childhood neighbour of the fella over his companyâs administration and then eventual liquidation. Thought heâd an auld chance when he found who he was. He said your man cleaned him.
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Remember there were non stop claims that NAMA would need a second bailout and cost the taxpayer more money.
What was the cost of renovating the old BOI building? Does that figure in your calculation?
Perhaps thereâs locations the State could have strategically kept but there really isnât a shortage of state land. Thereâs far more strategic locations like CIĂ lands where people donât seem to ask questions about.