When NAMA was first mentioned in class to write a blog post on, the first thought that
came into my head was
‘’ I’m defiantly going to have to Google what that is’’.
came into my head was
‘’ I’m defiantly going to have to Google what that is’’.
This link helped me trough it
I don’t like what I see! I knew all the facts already I just didn’t have the name ‘’NAMA’’ attached to it. Basically banks aren't as willing to lend to businesses anymore and as a result spending is going down and so are employment rates. So Mr.Goverment whatever shall we do?
Two years ago the banks began to really suffer, so the government decided to introduce a new scheme. If a bank hits rock bottom the government would refund depositors (aka bail the banks out!). Sounds great doesn’t it?
What angers people about NAMA is the fact that the government will overpay for the assets it purchases, paying €54 billion for loans worth an estimated €47 billion. So we (the taxpayers) will overpay the banks by at about €7 billion euro!
Let’s make this simple! Were paying for other people mistakes to the tune of millions, I may not understand this fully, but hey I’m just a taxpayer the government obviously doesn’t care what I think. Maybe if I was a banker my opinion might count.
