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Wilfull Ignorance about NAMA

Karl Whelan is sounding increasingly exasperated informing the public of the ‘bleedingly obvious’ re NAMA. One has to ask if the media and our politicians are deliberately trying to deceive the general public or they are really just that stupid.

Note to Opinion Columnists: It DOES Matter How We Deal With the Banks

This post was written by Karl Whelan

There’s been a flood of recent commentary on NAMA from opinion columnists, editorial writers and broadcast journalists. Unfortunately, much of this discussion has been premised on an incorrect but apparently appealing idea.

This is the idea that it doesn’t really matter which approach we take to resolving the banking crisis because the costs to the taxpayer are going to be about the same no matter what happens. We’ve guaranteed the liabilities, these people will argue, so basically we’re on the hook no matter what. And since all the plans are going to expose us to lots of risk, let’s just get on with the plan the government has.  link to full article

In answer to our own question we remember our usual repsonse to conspiracy theorists everywhere;- never underestimate the sheer incompetence of authorities.

Posted in Money Systems, News.

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