Quoted Shelley in the second stage of NAMA legislation. ‘Look on my works, ye mighty and despair’ according to that fine poem. This is all about how the legacy of kings ends up in ruins and sand.
NAMA could be the exception to all of this. It is likely that as an institution it will survive many of us. It may even survive the Seanad!
My simple opposition to it is that it rests on house prices rising again. Why would we ever want that to happen? The job of politics will be to make services and goods cheap and cheap for good. This will be to offset the fall in wages and the rise in taxes and interest rates. This bill runs counter to this need.