Post new topic Reply to topic  [ 19 posts ]  Go to page Previous  1, 2
Author Message
 Post subject: Re: NAMA has now repaid 29.7bn of the 30.2bn it borrowed
PostPosted: Sat Apr 08, 2017 9:48 am 
Offline
Nationalised
User avatar

Joined: Jan 4, 2013
Posts: 16954
Location: To the right of the decimal place
Luan wrote:
Skippy 3 wrote:
Pin consensus c 2010 was that Nama was not selling cheaply enough.......

The pin consensus also favoured a dead cat bounce :)

Image

_________________
“If you're afraid - don't do it. If you're doing it - don't be afraid!” ― Genghis Khan

"Do, or do not; there is no try" -- Yoda


Top
 Profile  
 
 Post subject: Re: NAMA has now repaid 29.7bn of the 30.2bn it borrowed
PostPosted: Sat Apr 08, 2017 10:48 am 
Offline
Too Big to Fail

Joined: Feb 21, 2008
Posts: 4011
Skippy 3 wrote:
Pin consensus c 2010 was that Nama was not selling cheaply enough.......


Lets see.. NAMA aquired 80B for 40B and borrowed 30B.. give or take. And all Irish banks are still trading insolvent. Try a Basel I statement of current trading position and just look at all those very negative numbers..

Most NAMA "income" is from asset sales. Lets looks at the numbers from the last public a/c's '15.

Project Arrow 6.25B par... sold for 800M

Project Boyne 300M par.. sold for 95M

Project Jewel 2.6B par .. 1.85B (but only because its a real asset portfolio.. and I suspect NAMA "valuation")

etc..etc..

Total 8.5B... about 50% from selling real assets..

..and 5.5B in senior bond redemption.

The consensus in 2010 was that Anglo should have been allowed to fail. It would have cost less than 10B to cover the 20/30 year gov securities to recapitalize AIB/BOI. Which actually were of systemic importance.

As Ireland so far has only succeed in getting itself back economically to 1977 rather than 1987, still another 15 / 20 years to go..

Still most expensive bank bailout ever. Final cost? Over 70% of GNP? Actually we'll never know as now that the CSO has changed to fully conform to EuroStat's econometric methodology Ireland's GNP/GDP numbers are now completely meaningless. Pure gibberish. Much like the Cayman Islands. And Luxembourg.


Top
 Profile  
 
 Post subject: Re: NAMA has now repaid 29.7bn of the 30.2bn it borrowed
PostPosted: Sat Apr 08, 2017 3:07 pm 
Offline
Neo Landlord

Joined: Nov 10, 2006
Posts: 202
Location: Barcelona
Luan wrote:
Skippy 3 wrote:
Pin consensus c 2010 was that Nama was not selling cheaply enough.......

The pin consensus also favoured a dead cat bounce :)


IMO Quantitative Easing turned what would have been a dead cat bounce into a substantial bubble reflation (in terms of prices, not credit thankfully, at least in Ireland).

Looking back and laughing, as if the the whole matter has been done & dusted, is myopic at best.

Personally, for business reasons, I really want this global debt charade to last at least another 2-3 years but we'll see.


Top
 Profile  
 
 Post subject: Re: NAMA has now repaid 29.7bn of the 30.2bn it borrowed
PostPosted: Sat Apr 08, 2017 7:31 pm 
Offline
Property Magnate

Joined: Oct 10, 2010
Posts: 662
Location: the airport
jmc wrote:
And all Irish banks are still trading insolvent. Try a Basel I statement of current trading position and just look at all those very negative numbers..


I wonder what the Basel IV changes will do for the Irish banks... :x


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 19 posts ]  Go to page Previous  1, 2


Who is online

Users browsing this forum: No registered users and 3 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Jump to: