Posts Tagged Fianna Fail

The Man Who Invented NAMA is a Property Developer

It seems Dr. Peter Bacon, the man who Fianna Fail turned to for an answer to the property-loan banking crisis and who has come up with NAMA is a bit of an academic shill for hire:

The cost of the report to Longford County Council was around €25,000-€30,000. … A substantial portion of this was contributed by an anonymous donor — believed to be Longford-born builder Joe O’Reilly.

He is, of course, a long-standing beneficiary of contracts from FF governments:

Close to former Taoiseach Bertie Ahern, his economic consultancy, Peter Bacon & Associates, picked up a steady stream of public contracts even after the Government’s change of tack on housing policy.

The best part is that he has had, extensive interests in property development companies himself. If he does not hold shares still (unusual for board members to not be compensated with shares), then he certainly must have many friends in an industry that will no doubt be a source of revenue to him again in the future:

Peter Bacon … former board member of Ballymore Properties, one of the property developers now in the spotlight,

So the plan to have all the bad property loans offloaded to the Irish state was invented by a man who quite probably is a Fianna Fail crony amd a man who besmirches his academic title through shilling. A man who definitely has very close ties to the property developers.

Why are we letting Fianna Fail “fix” this problem with this destructive plan? Why don’t the Greens walk out and let the country vote?

(And yes, I’m a bit late to this revelation)

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