{"id":1393,"date":"2009-09-18T14:38:20","date_gmt":"2009-09-18T14:38:20","guid":{"rendered":"http:\/\/www.briangreene.com\/bhg\/2009\/no-to-cuts-no-to-lisbon-no-to-nama\/"},"modified":"2009-09-18T14:38:20","modified_gmt":"2009-09-18T14:38:20","slug":"no-to-cuts-no-to-lisbon-no-to-nama","status":"publish","type":"post","link":"https:\/\/briangreene.com\/bhg\/2009\/no-to-cuts-no-to-lisbon-no-to-nama\/","title":{"rendered":"No to Cuts No to Lisbon No to Nama"},"content":{"rendered":"<p>reblog of letter from joe higgins. <\/p>\n<p \/>&nbsp;Yesterday the government outlined it\u2019s plans for the National Asset <br \/>Managment Agency \u2013 a digusting bailing out of the banks. Here Joe <br \/>Higgins restates his fundamental opposition to NAMA, and calls on <br \/>working people to turn out on Saturday\u2019s demonstration against this <br \/>obscene bail-out. <\/p>\n<p \/>&nbsp;The banks now being bailed out for their reckless lending to greedy <br \/>speculators and developers are the same banks who show precious little <br \/>consideration to ordinary householders who fall behind on mortgage <br \/>payments on the overpriced houses they were forced into buying <\/p>\n<p \/>&nbsp;The Green\u2019s may be pleased with the 30% \u2018hair cut\u2019 but the fact <br \/>remains that already 60% of the proposed loans being taken on are not <br \/>performing and that\u2019s a figure only likely to go up in the years <br \/>ahead. <\/p>\n<p \/>&nbsp;No individual in their right mind would buy a house or a second hand <br \/>car for that matter for anything other than the current market value <br \/>and yet in this instance we are expected to swallow a concept of \u2018Long <br \/>Term Economic Value\u2019 which in plain language is nothing more than an <br \/>aspiration by the government and their builder, banker and speculator <br \/>friends of a return of the property bubble in the not too distant <br \/>future. <\/p>\n<p \/>&nbsp;The government makes a great play of the approval their plan has <br \/>earned from the ECB and IMF, institutions for whom the interests of <br \/>Irish working people do not figure highly. They are remarkably silent <br \/>however on the recent judgement of the courts in Ireland on the <br \/>Carroll case which has essentially rubbished the whole premise of <br \/>NAMA. <\/p>\n<p \/>&nbsp;Capitalism we were told rewards the risk takers but without a hint of <br \/>irony this afternoon Minister Lenihan justifies NAMA as he refers to <br \/>\u2018risk that the private sector is not willing to take on\u2019. I say to the <br \/>Minister let them take their losses and nationalise the banks under <br \/>the control and management of the bank staff and working people <br \/>generally. <\/p>\n<p \/>&nbsp;Only the pressure of people power can stop NAMA at this stage. I <br \/>therefore strongly urge people and especially the youth who could be <br \/>saddled with the consequences of NAMA for their entire working lives <br \/>to turn out in force at the demonstration against NAMA this Saturday <br \/>19th September at 1pm beginning at the Garden of Remembrance in Dublin <br \/>or at any of the other actions planned around the country on that day <\/p>\n<p \/>&nbsp;<a href=\"http:\/\/www.joehiggins.eu\/\">http:\/\/www.joehiggins.eu\/<\/a>      <\/p>\n<p style=\"font-size: 10px;\">  <a href=\"http:\/\/posterous.com\">Posted via email<\/a>   from <a href=\"http:\/\/posterous.briangreene.com\/no-to-cuts-no-to-lisbon-no-to-nama\">web lab<\/a>  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>reblog of letter from joe higgins. &nbsp;Yesterday the government outlined it\u2019s plans for the National Asset Managment Agency \u2013 a digusting bailing out of the banks. Here Joe Higgins restates his fundamental opposition to NAMA, and calls on working people to turn out on Saturday\u2019s demonstration against this obscene bail-out. &nbsp;The banks now being bailed&hellip; <a class=\"more-link\" href=\"https:\/\/briangreene.com\/bhg\/2009\/no-to-cuts-no-to-lisbon-no-to-nama\/\">Continue reading <span class=\"screen-reader-text\">No to Cuts No to Lisbon No to Nama<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-1393","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"_links":{"self":[{"href":"https:\/\/briangreene.com\/bhg\/wp-json\/wp\/v2\/posts\/1393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/briangreene.com\/bhg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/briangreene.com\/bhg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/briangreene.com\/bhg\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/briangreene.com\/bhg\/wp-json\/wp\/v2\/comments?post=1393"}],"version-history":[{"count":0,"href":"https:\/\/briangreene.com\/bhg\/wp-json\/wp\/v2\/posts\/1393\/revisions"}],"wp:attachment":[{"href":"https:\/\/briangreene.com\/bhg\/wp-json\/wp\/v2\/media?parent=1393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/briangreene.com\/bhg\/wp-json\/wp\/v2\/categories?post=1393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/briangreene.com\/bhg\/wp-json\/wp\/v2\/tags?post=1393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}