Category: NAMA

Why Ireland must pay a higher interest rate……. »

I submitted this to the IrishEcomony.ie blog today and reproduce it here for the other two readers: About these widening spreads….I suspect they are related to NAMA, which is the source of the great majority of new Irish debt. Last February I worked out approximately that, based on the preliminary NAMA Business plan, the interest […]

NAMA can’t afford to redeem its own bonds »

It seems to me to be improper for the State to guarantee the bonds being issued by NAMA-SCAMA, when the said organisation does not have the readies to redeem them at maturity and the State also is blatantly obviously unable to pony up tens of billions of euros for the same purpose if its guarantee […]

Is AIB’s sale of M&T..legal ? »

Directors of public companies have certain legal (and moral) responsibilities vis-a-vis shareholders, including duties of care and loyalty and the duty of full disclosure of pertinent facts surrounding matters on which shareholders are asked to vote. These responsibilities are particularly important at a time when the company is being taken over, which is in effect […]

A Good NAMA and a Bad NAMA »

I was strongly in favour of the NAMA scheme, when it was first revealed: It seemed like it could really help resolve the banks’ liquidity problem, while costing the taxpayer nothing. Remember, the banks had extended billions in commercial and development property loans, against security which was fast-falling in value in the crashing property market. […]

What we dont know about NAMA and allied matters »

Í read on that good blog, www.Irish Economy.ie, that the State proposes to provide promissory notes as its capital commitment to the funding of Anglo Irish Bank. If that’s true then it means that Anglo must be planning to raise equity elsewhere in order to meet the new (still just proposed) Basel III standards ( […]

AIB can meet the challenge »

The consequences of the NAMA and allied announcements yesterday included a slight fall in the share price of AIB today, amid very heavy trading, and a sharp rise in the price of BOI. The market seems to think that the State will end up owning more of AIB- probably a majority most people say -than […]

Report on my “gamble on AIB” suggestion »

On Feb. 28 I wrote a piece entitled “A Gamble on AIB today?” (see below), in which I recommended a flutter on AIB at that time. I’m happy to say !..yes, happy, because at that time the share was c. 1.00 euro, and it since–almost immediately- rose to c. 1.65 euro last week…an enormous profit […]

Banks – no need to panic »

So, we have arrived at the moment of truth..NAMA is to reveal the price it will pay and the banking system will end up in government hands, according to the professional professors, the insider winkers, the usually well informad media commentators and the bewildered of RTE. Well, I think they’re wrong. I’m sticking my neck […]

A gamble on AIB today? »

I reproduce my contribution to the discussion board, Ask About Money, where Seantheman had “accused” me (politely) of probably being a disenchanted BOI shareholder. ” To Seantheman No, I never bought BOI, but it may now be time to do so. For those with loose cash–that excludes me !- it could be the opportunity of […]

State to gain billions from NAMA assets »

There is a curious statement in the EU Commissions press release today (IP/10/198, 26th February) : “…the inclusion of an adequate remuneration for the state in the rate used to discount the assets’ long term economic cash flows…” The implication here is that the Commission feels that the State is proposing to discount the future […]

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Video: About NAMA(2009)
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