Rich Man, Poor Man is nothing compared to our sad NAMA saga
A similar contrast in fortune is playing out in modern day Irish life and commerce. The treatment of debt in this country depends on who you are and how much you owe. Inequality of treatment of debtors has reached breathtaking proportions. Policymakers cannot continue to underwrite such awesome inequity.
Are you part of the NAMA elite? Namely: Derek Quinlan, Bernard McNamara, Paddy Kelly, John Flemming, Johnny Ronan, Richard Barrett, Patrick Shovlin, Sean Dunne, Liam Carroll, Ray Grehan or a member of the Mansfield family. If so, you are kindly requested to submit a business plan. The top 180 borrowers owe our state agency €62 billion. They explain that their assets are no longer worth the loan values. All is forgiven. Well, not quite — almost 60% to be precise.