Neo-NAMAs, who made from the Bunker?

NAMA. Good Bank, Bad Banks, Piggy Banks... the core of the debate for months has not been about finance or economics or what is LTEV. It has been about trust and who do you believe. Any idea from FF, FG, Labour, 41 Economists, Dermot Desmond or Garret Fitz has holes in it, and will have risks and all will have winners and losers from 'the known unknowns etc'. The future for Ireland is not in what comes out of NAMA or if it fails what replaces it. The future for Ireland is how we behave in all manners of life, business, public life, how we view and value others. We get the Government we deserve and we got the mess we deserve. Only and idiot who went through the last 10 years thought any good would come of this. NAMA, or what ever happens can only have one function. It is used to draw a line in the sand of how we as a nation and economy operate, unless that changes we have no future.

Here come the solders of Christ

There is that old saying that must un-Christian thing imaginable is two Jesuits alone in a room together. Well we got Brian Lenehan (Belvedere) and Eamon Ryan (Gonzaga) apparently best buds and going to get NAMA through Greens and FF Mucksavages.  This makes the unholy alliance of Goldman Sachs cronies between the Fed, Treasury and White House as chicken pooh.

Fight the Power

Shaken and Stirred - Lenehan's London cocktail circuit

Just got to read in the Irish Times how the Investment Bankers in London are impressed by Brian Lenehan and his plan for Ireland Inc etc.... But arn't these the same guys who got us into this mess? The mess we got into from bankers wanting deals and 'returns' to book to the bonds packaged into whatever your having yourself. Back then they didn't care if the bonds ever made returns, as they were for selling not for buying (duh!). But now bonds are meant to be for buying (huh?), and bankers don't care what Lenehan and ZANU FF will do to Ireland just as long as we make the payments. Its a bit like pitching up at an AA meeting to ask advice on a new cocktail you have made. After 10 minutes of explaining to ingredients and mixing the answer comes back. 'Just double the booze'.

Why we need a Latin American Economic Model for Ireland

Last Friday in Cork Brian Cowen said to the FF faithful "I'm putting the next generation ahead of the next general election.", its a shame he didn't have that brainwave 5 years ago when he was Minister of Finance, and put this idea across the cabinet table when Charlie McG was spreading the FF love like a dose of the clap in a Rio brothel! One is getting a little tired of FF breast beating! 

Now today SIPTU president Jack O'Connor has warned that the union will engage in a sustained industrial campaign if agreement cannot be reached on a new national recovery programme.

Which brings me to the successfully proven Latin American Economic Model.

1. You roll the tanks into town

2. Shoot the politicans

3. Hang the trade unionists

4. Put some guy with shades, a well fitting uniform, a chest a medals on all the stamps

5. Make sure the football stadium is ready for the kick-off of the league

With the Soccer team having a sniff at getting to the World Cup, is it any wonder that the army has been sent to Chad (I've seen the pictures and they are all wearing shades!)

FF's legacy

They took us to the land of plenty and back and left us with nothing.

Whose got a round head?

Someone in the Dail the other month said that the Banks had done more damage to Ireland than Cromwell! It would appear that Fianna Fail have risen to the challenge and are doing their damn best to top the bible thumper in slaying all that we have to offer! And how? By sitting on their hands. Now that is some card trick.

The great irony being that Cromwell didn't like royalty and was a keen republican. Whereas FF like a good aristocracy, and place the offspring of the fallen on the throne (ticket) to carry on the cause. This would have you think are we in this position because of bad genes or bad luck?

Extreme Toxic Banking Solutions, part 1

We've been here before in history when people have borrowed to much and can't pay it back. Two solutions.

1307, King Philip IV of France owed The Poor Fellow-Soldiers of Christ and of the Temple of Solomon aka the Knights Templar are large sum of cash and tortured them into false confessions and had them burned at the stake! A very popular solution to banking even back then.

In 1492 King Ferdinand and Queen Isabella of Spain had maxed out their Credit Cards riding the Moors of Spain, so expelled their bankers from the country.

Extreme, heavy handed, draconian, but perhaps  something better than what is being suggested at present. And a question to ask? If setting up a toxic bank (asset agency etc) is such a smart idea, why hasn't anyone done it yet?