baaa NAMA Rama!!

Excuse my indifference to NAMA and the whole concept of collecting toxic debts from banks, and discounting them to they become realistic!!. .What hogwash!..  Why couldn't the Irish government realised that the whole economy was based around a simple capitalist principle, and that is one of profit and risk (i.e. the greater the potential profit in any venture, comes with it the in-built risk associated with that potential return).


Hence if  Mr Irish Exchequer had left commerce to it's own devices, there would have been a huge collapse in businesses (mainly associated with the property markets), but the country as a whole would be a whole lot better off than it is now!.. i.e. No tax payer has to pick up the bill for another's greed. that "other" simply goes broke and all those debts are written off in the normal course of events that follows any business going bust. I'm not saying that the country would not have suffered as a result of these business going bust (esp some of our Banks), but think about it, even if ALL of our main banks had gone bust, there'd suddenly be opportunities for NEW banks to start up, and develop in the new economy in a much more efficient way (for example instead of having 100's of branches all over the country, why not have one excellent on-line branch that facilitates our modern cashless society that many less-well-educated haven't got to grips with yet!).. As I envisage all of the possibilities that emerge from letting capitalism take its' course amidst a property boom that was also contributed to by corruption, I feel that the benefits of letting it take it's course would far out weigh the downside, in almost every respect!..  In fact I believe it's exactly that (yes, dare I say it), but the corruption that is build into the system and has become intrinsically liked within every fabric of it, that led to the government decision to intervene, as they did. and not the long term economic good of the Country.