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Every time I hear the word NAMA, I can't help singing the Sesame Street song Ma nah ma na NAMA and it brings a smile to my face. I don't know why maybe it conjures up some childhood memories but I'd place my bets on how ironic it is.NAMA (National Assests Management Agency) is the governments brain child to rid our banks of all their bad debts leaving us, the taxpayer with all the risk. Now I'm not a financial expert and I don't know if I agree or disagree with NAMA however it does make me feel uneasy that the property developers who made millions perhaps billions during the Celtic Tiger are being bailed out. It's argued that if NAMA wasn't implemented that the country could face dire consequences but what about the dire consequences that we may face in the future because of NAMA.
The government appointed economist, Colm McCarthy, who identified €5.3 billion possible savings from government spending, stated that the Irish Banks could still be nationalised despite NAMA being implemented. Is this some kind of sick joke? We spend billions creating NAMA to help save the banks but might have to spend even more billions nationalising the banks further.
Ever get the feeling that you're in a dark room trying to find your way out with everyone giving different directions, maybe that's how the government feels as none of them are qualified enough to deal with this situation. I can also imagine the ministers sitting around the cabinet table twiddling their thumbs, looking into their department papers not fully understanding the magnitude of the crisis we're in, the impact of NAMA or even gaging public sentiment correctly but one thing is for sure I bet when the going gets tough the burst into song Ma Nah Ma Na Na Nama, Ma Nah Ma Na Na Nama, Ma Nah Ma Na Na Nama just to make them feel better!
5 comments:
First again, what crisis? Then, I rememember the te time in the USofA when I was a tyke watching Sesame Street too, as well as the song. Way back then I thought they can´t sing. Today I know it rather. Propz P Pilgrim...have you meanwhile read my blog?
Pilgrim, i'm not sure if you jest when you ask what crisis but the worlds banking systems seems to be in a bit of a crisis, along with a global recession. Irelands economy has been particularly hit.
ps
I do read our blog
Hee, I do that too! I'm so glad I'm not the only one.
Meadow, I'm surprised non of our comics have started using this yet. If we're both thinking it surely half the country is but then maybe not. I once heard you're the female version of me and I the male version of you! :-0
Meadow, The more I think of this I'm wondering, did you put this into my head the last time we met?
Did you?Did you? Are you the guilty one?
:-)
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