Poul Rasmussen on Irish Banks rescue plan

[Fliujniligui]

Well, this guy seems to say that the NAMA is giving money to the banks to bail them out without conditions.

This view is not balanced in my opinion. First , for the preferred share, government got 25% stake in each bank. Moreover, there is a 8 % dividend payment during the time banks benefit for taxpayers money. NAMA takes bad loans and overpay a little bit over their market value, but there are measures to ensure banks will pay back losses on the long run if NAMA winds down with a loss.