We had only come back from Erasmus at Xmas and everybody was talking about this NAMA. "What the hell is it i thought". To me it meant absolutely nothing, or so i thought. I eventually did a bit of research into the topic.
Firstly it stands for the national assets management. Basically what it does its an assets management company dealing with assets transfer ed from the bank."NAMA will not be a bank as it will not be taking deposits from the public and will not have a banking licence. NAMA will have loans on its books based on real physical assets, and while some of these will undoubtedly be of better quality than others, they will be a mix of ‘good or performing loans’ and ‘bad or non performing loans"http://www.moneyguideireland.com/nama-national-asset-management-agency.html.So when i researched this i was kinda like "huh".
So basically NAMA were going to buy all the land and property loans of the six Irish banks with reassurance of a state guarantee. Heres the good bit as i read down the loans that NAMA is going to cover is between 80-90 billion..."yes billion" this is to put leading institution in a position to start lending again. "Getting our selves in more in other words".
Even if these debts are bought by NAMA at two-thirds of their face value – the bill could be in the region of €60 billion. ( Ireland’s national debt is currently €54 billion) http://www.moneyguideireland.com/nama-national-asset-management-agency.html" So i have to ask the question here, why if were in more debt do we want to put ourselves in to even more debt" or maybe this could be a solution to a problem.
.
"I think who ever was part of problem should not be part of the solution".
Firstly it stands for the national assets management. Basically what it does its an assets management company dealing with assets transfer ed from the bank."NAMA will not be a bank as it will not be taking deposits from the public and will not have a banking licence. NAMA will have loans on its books based on real physical assets, and while some of these will undoubtedly be of better quality than others, they will be a mix of ‘good or performing loans’ and ‘bad or non performing loans"http://www.moneyguideireland.com/nama-national-asset-management-agency.html.So when i researched this i was kinda like "huh".
So basically NAMA were going to buy all the land and property loans of the six Irish banks with reassurance of a state guarantee. Heres the good bit as i read down the loans that NAMA is going to cover is between 80-90 billion..."yes billion" this is to put leading institution in a position to start lending again. "Getting our selves in more in other words".
Even if these debts are bought by NAMA at two-thirds of their face value – the bill could be in the region of €60 billion. ( Ireland’s national debt is currently €54 billion) http://www.moneyguideireland.com/nama-national-asset-management-agency.html" So i have to ask the question here, why if were in more debt do we want to put ourselves in to even more debt" or maybe this could be a solution to a problem.
.
"I think who ever was part of problem should not be part of the solution".
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