Should the Irish government have some how secured control of Irish mortgages that are in negative equity and/or arrears so they could restructure them for the people. As NAMA is said to incur massive losses surely an extra few hundred million or billions would have been worth it especially if it saves families from foreclosures, homelessness and despair.
my calculations suggest the cost of buying 300,000 mortgages at an average of 200,00 would have been the same cost of bailing the banks out. 75 billion euros.
Capitalism is at a new beginning.
- Irish banks: are my savings safe? (confused.com)
- NAMA formally launches negative equity mortgages today (namawinelake.wordpress.com)
- Farmers group wants Ireland to follow Iceland and burn the bondholders (12160.info)
- Stimulating The Housing Market Is Economic Madness (i.doubt.it)
- NAMA formally launches negative equity mortgages today (teddyoshea.wordpress.com)
- Restructuring the Irish promissory notes (thepressnet.com)
- NAMA negative equity mortgage – gimmick or game-changer (namawinelake.wordpress.com)
- More details on fate of Anglo Irish (ritholtz.com)
- 1st. Anniversary of Morgan Kelly’s Seminal Irish Times Article: (thepressnet.com)
- NAMA architect on shaky ground in defending Agency (namawinelake.wordpress.com)