BaNama Republic, NAMA and “long term economic value” as “demographics” is disinterred from bubble wreckage
Jul 31st, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
UCD economist Professor Karl Whelan, has been a prominent critic of the Government's handling of the banking crisis and following Thursday's publication of draft legislation on the planned "bad bank" NAMA, he titled his post on the Irish Economy blog, "BaNama Republic," taking aim at the plan to use "long term economic value," as the basis for valuing toxic property loans. "Demograhics," the favourite crutch of the boosters during the property bubble, has also been been disinterred from the wreckage.