Saturday, August 22, 2009

Orwellian Doublespeak: Cowen and NAMA

Reading the latest statement of Taoiseach Brian Cowen that NAMA was being established on the best international advice I cant help thinking that Orwellian doublespeak is creeping into Irish reality.

White is black , black is white , misinforamtion is truth and NO ALTERNATIVE is the solution.
Overpaying is called discount to "long term economic value".
"International advice" is selective quoting of what the IMF says.

But the IMF says that NAMA is part of a solution FOLLOWING nationalisation , and yet Cowen selectively quotes only the bit that says that NAMA is part of the solution , forgetting that its the second element of a plan that requires first nationalisation.

"RecentFund advice in this regard is: “Insolvent institutions (with insufficient cash flows) should be closed, merged, or temporarily placed in public ownership until private sector solutions can be developed ... there have been numerous instances (for example, Japan, Sweden and the United States), where a period of public ownership has been used to cleanse balance sheet sand pave the way to sales back to the private sector.”6 Having taken control of the bank, the shareholders would be fully diluted in the interest of protecting the taxpayer and thus preserving the political legitimacy of the initiative. The bad assets would still be carved out,but the thorny issue of purchase price would be less important, and the period of price discovery longer, since the transactions are between two government-owned entities. The management of the full range of bad assets would proceed under the NAMA structure"

As for the European commission , they say that the transfer of assets should be at prices close to the "real value" and that somehow is equated to this bogus notion of "long term economic value" that the government is trying to sell us.

PS Orwell actually used the terms doublethink and newspeak, but merging them you can get


  1. NTN,


    I was spitting tacks about that today.

    My cats didn’t like it.

  2. Oh,

    Forgot to add.

    What my cats really didn’t like was the complete abuse of the Supreme Court that the “Sick Man of Ireland” (Liam Carroll) has inflicted on the coming generations and the (simple) idea of justice.

    This piece of insatiable greed is capable of taking a case through the entire legal process of this nation AND then instructs the Supreme Court to bend over their own bench while he f**ks them and has his way with the High Court.

    One can only hope that the next time the Supreme Court gets f**ked like that they’ll bring their own KY Jelly.

    But then, how can any of us blame Liam Carroll? After all, the man by definition is incapable of decision.

    So, the question is this.

    If Liam Carroll is so f**ked up in his own head, who is the ringmaster running the circus for our entertainment?

    Are his wife and her fellow directors just the hired clowns?

    I think they are. They may be reluctant hired clowns but they are hired clowns.

    So I’ll finish with this.

    The Supreme Court needs to get a pair of balls. The Supreme Court needs to work out that they don’t work for Liam Carroll & Fianna Fail.

    The Supreme Court has opportunity to decide whether Estate Agents value property or whether Estate Agents know the price of the Supreme Court.

  3. “PS Orwell actually used the terms doublethink and newspeak, but merging them you can get doublespeak.”

    Do you think Orwell considered “Non Speak” as a method of control?

  4. OK,

    What is 1 + 1?

  5. Wrong.

    In the binary system 1+1 =11

  6. Ok, perfect

    And what is the point you are trying to make?

    ( I was actually answering in an Orwellian world were 1+1 is whatever we want it to be)

  7. BTW one plus one in binary is 10 not 11, the binary 11 is actually 3

  8. the IMF never said Nama must 'follow' nationalisation, that is a misrepresentation of the facts,

  9. There seems to be quite a lot of misrepresentation on this blog. Last time I will be visiting

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