While all of that is true. The state isnt a capatilist pig. Those assets could have reduced in wealth too. Senior hurling I suppose but it wasnt a runner ever.
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They were hardly going lower
I would say the shit that went on would make Bertie and the boys blush
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Never say never…
A short position at that time…
Constantin Gurdiev was predicting NAMA would lose tens of billions. A lot of doomsday predictions at the time
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He appears to have fucked off someplace else when his doomsday forecasts didn’t come up. Vin Browne seemed to think he was the real 2nd coming…
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When you have loads of assets and no cash you need to sell. You can’t sit on assets and expect the loan shark to sit tight. Give me my fucking money!
Michael Burry years ago predicted inflation to take down everything, if he’s right, all the private equity companies will be fucked in the states. They’ll need cash, they wont give a fuck that they are achieving super returns over 20 years in Ireland with government backed HAP, they will be told to sell them and get in cash!!!
How much will they sell them for? ….could be very interesting
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Every one of them deals were as dodgy as fuck.Plenty of politicians involved behind the scenes making out like bandits.
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Renage on the loan, do a ‘deal’ on the debt (eg 20 cent in the euro) and a relative or friend would by back the asset at the new discounted price.
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Get paid 100k a year to “manage” the asset too.
My economics teacher was cribbing about the sweetheart deals at the time. It was a totally corrupted institution from inception to conclusion.
Not paying on the mortgage but still collecting rent…
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NAMA , and how it disposed of its assets, is one of the great corruption scandals of our time.
I’d be fairly sure that is not the case.
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I would have to disagree given what I actually know.
Yes I am sure you have some great dirt there.
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Well at risk of the usual ridicule, I have two separate very good friends who had actual dealings with them. Both found them, let’s say, remarkable.
To their contacts …
So it would appear.
Superb Deposit Interest Retention Tax reference there.