On Primetime this evening, it was revealed that NAMA is spending €1 million of our cash per day. The breakdown is
€78 million to banks for admin fees
€75 million for insolvency
€45 million for staff
€25 million for legal fees
€10 million on professional fees.
We have already pumped in over €30 billion to take the dodgy loans off the banks balance sheets.
The worst part of this sorry story is that we cannot find out whats really going on inside NAMA, as its exempt from freedom of information requests. As ever in Ireland, if there is a shroud of secrecy around something, it normally means something fishy is going on.
From what we can see, the people that caused the mess are now being paid by NAMA to sort it out, and being paid very well. There is no austerity for these crooks.
This make it all the more clear why we all must refuse to pay the household charge next month.