Say No to NAMA Intro

This is a site to organise people in Ireland against the proposed National Asset Management Agency (NAMA).

We believe that NAMA is a dangerous development that will cost the Irish taxpayer.

We want the NAMA legislation voted down in its current form, and a fair alternative to the financial crisis be implemented.

The interest of the group is to be positive about the situation and try to be a part of a solution.

We want to highlight the risks of NAMA as in its current proposed form, but also suggest alternatives that spread the risks more fairly.

We want to get people to write to their TDs and ask them to reject NAMA in its current form.Most importantly we demand the the Minister for Finance makes public the detailed regulations of the pricing methodology before the debate at the Dail.

We want the process of purchasing bad assets from the banks to reduce the risk to the Irish taxpayer to the lowest possible level, while in the same time helping the banking system to recover.

We want the proposed agency to pay the lowest possible price for the bad loans.

We want the pricing process for the purchase of the bad loans to be public and transparent.

We explicitly reject the proposal to "overpay" for the bad loans, and we view such action as a transfer of the taxes of the Irish people to the benefit of bank stakeholders ( bond holders and equity holders) and property developers.

We explicit reject the assertion by the government and the promoters of the NAMA solution that one way or another the Irish taxpayer will pay the cost.

There is still enough capital in the banks( equity , retained earnings , and bond holders capital) that can assume some of the eventual losses , and we believe that this capital should be the first in line to take losses before change the proposed legislation.

In this current period essential state services, are being cut (e.g. cancer treatment service in Sligo, problems at the Crumlin hospital) putting lives in risk.

Charges for universities are being considered, hampering the access of young people to university and reducing the productive potential of the Irish economy.

In the same time the proposed NAMA legislation will transfer billions of resources to banks in a completely unaccountable and secretive way.

We want the Irish people to resist the proposed legislation and to ask for a more transparent and fair plan.