02.24.10
IRISH TERRORISM CORPORATE STYLE re NAMA & ANGLO IRISH
European Commissioner for Economic & MonetaryAffairs.
Please review the following–
The Irish situation is worse than the Greek present fiasco! as in if you knew now what they were doing in 2001 – you would have to have stopped them or you are compliant to being not worthy of your present office.
So now Ireland & Dublin is pushing through NAMA & Anglo Irish paperwork, ,& in many ways it is far worse than the Greek Scandal- as it could cost 100
yes One Hundred Billion in Euros in the end, if it heads where all indicators , appear to point.
All EU officials should be disgusted that a few supposed top rate Banks & others should have colluded with Greek officials back in 2001 , so to avoid disclosure so that monies could be raised without the system knowing.
It is beyond outrageous.
European HQ should therefore be absolutely vigilant re the Irish story unfolding, & who & why Dublin is pushing hard to have a resolution before this coalition sinks.
Democracy and what will affect the majority of Irish Citizens & Europeans too, yes ! If the Irish problem after Nama ( and the mishandling of up to 100 Billion of Funding ) ends up draining more EU resources !
as the Irish have had a canny ability these past 20 years in getting more than their full share from Brussels! No comment here to Charlie McCreevy & his over zealous helpers! etc & their past tactics!
Re Greek Government now, to say, we were not in power, so it was not our doing.
As an effective opposition should have known & it is hard to believe that more top families & officials did not know, but silence is sometimes golden ! ask the Chinese!
Now back to your desk, at the Commissioner of Economic & Monetary Affairs and your team led by Senor Carlos Martinez- Mongay.
NAMA. Also interconnected with ‘Anglo Irish’ supposed re capitalization plan ( This Bank should have undergone a public inquiry -as the past management discussions are riped with political interference & many serious unanswered questions of conflict of interest.)
IRELAND with this questionable Irish Government ( hanging in by a thread- losing another coalition member yesterday ) is supposedly, trying to get out of their very badly managed economy, these past 10 plus maybe more years, through instituting NAMA.
This problem ,has been due to,over zealous & at times incorrect practices by Government, Advisors, Officials, Bankers etc etc
Gosh a Greek similarity already appears.
Last week when the Irish courts, with a Bank of Ireland related Property Problem, valued something at 80% depreciation ( which is not so crazy as the prices went up to such absurd levels that they were not even realistic, 2 years ago- but it was convenient for many to look the other way)
Now if the REAL value is near 80% off !? How can they be about to pay close to 80 % on valuations to this select group of supposedly well connected property /spivs.
How can NAMA, be about to let these select group of Irish/Clan/Investors/Supposed property players, expect the State through NARMA & in the end, be bankrolled by EU – as if Ireland end up dropping 10’s of BILLIONS ( and it may be eventually nearer 100) which they do not have economically now anyway! who will they turn to!
If Europe said NO to further help! then we will see a dirty pack with this Bostonian clan/ that have been very much part of these past years of mismanagement by back room deals.
It is no surprise that American Banks other select group of US Private Equity Investors, have been behind the scene, these past years, with other questionable deals deriving from US instruction.
So the more, the mess & the more state money wasted from where ever- beware US, yes US through private equity, can pick up the spoils for small change !
No dream, but this is not the forum , to enter & discuss this part of the dirty Irish Tales!
Senor Almunia & Team, please reflect HARD & utilize Intellectual Curiosity to the maximum here, as agreeing a Green light to NAMA without insisting serious changes still at Anglo & at NAMA , as to who truly is getting paid what , could see the biggest Daylight Robbery! ever!? – up to now with the EU & here you all have a responsibility for the 490 Million Citizens ! as 100 Billion is not insignificant , forgetting the repercussions.
AS if Greece is putting strain on Euros now , the domino affect of a mishandled Irish Story would be horrendous- remember wisdom , and just number following suggests we have another dip re markets- & a visit to last years March lows, will put strains on the system- & if US tightens ( which is now is more than a probability) , so to put the screws on Europe etc — Irish incompetence will cause problems !! so his matter is far more complex than just an Irish problem !
Ireland is on an even higher & more surreal/unreal/ & potentially dangerous situation.
As corruptions here is like a disease , & when it is so rampant even those that carry a disease know, it becomes a point when you just do not wish to accept at any reality what you have !
This is an absurd situation for a Country to ever have let itself get into.
Anglo & the other Banks need to accept responsibility at the correct market valuations & must not allow, as what is happening for a select group of business men with tremendous influence & favours due ! to get away with State & possible EU money ! for their past present & no doubt future mistakes.
Instead of accepting responsibility & losses & closing or letting others like, maybe the state to take over at correct valuations !
We should all hope & pray, for not just Irish citizens but Spanish Portuguese, English & fellow EU complete,you will do the right thing re NAMA , even if it may make you unpopular with bankers / lawyers , these influential and questionable Irish and other borrowers at Anglo etc.
We should have a full public EU inquiry into Anglo Irish and who has created and benefited so far from the mismanagement ( as the spread of deceit etc & incorrectness goes well outside Europe to other EU countries and US)
so for starters, reflecting past, present decisions with scrutiny, would benefit everyone.
By the way, where is courage, self control, & intellectual curiosity in these institutions?
I hope you appointed officials, will not like many in these Institutions pass the buck or listen too closely to the same advisers indirectly working for solutions, with the problem makers ie the defunct Anglo Irish & the establishment of NAMA– this would be a huge tragedy.
Doing the right thing!! is in the end, always right with the correct dividends ! Think Long Term & if not then worry about darkness & real problems that loom.!
