For a clear, no nonsense analysis of NAMA and how the taxpayer is about to be screwed, I recommend this article by David McWilliams.
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To the proverbial ‘man in the street’ all this financial hocus pocus is bewildering. How can he choose – as if he had a say in it anyway – what is the best way out of this mess ? Nama is the government’s proposal and FG have a different view which appears to be the opposite – good bank versus bad bank. Labour has a third view just to be different again, although nationalisation is at least consistent with whatever socialist thinking is left (now there’s a word!) in that party.
Capitalism carries within it the seeds of its own downfall and each period of boom is just one huge experiment – after a bit of tinkering around after the previous recession – that will probably fail again. We need a middle way between Anglo American market madness and outright communism which itself failed.
A number of continental European countries – although affected to a degree by the current recession seem to have found a form of it.
A good enough reason to vote yes to Lisbon ?
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