Namawinelake smacks down the Dept of Finance…

Namawinelake takes the department of finance apart…

NAMA Wine Lake

Question: If I loan you €10 on 3rd April 2012 for a maximum of 90 days, what is the maximum “maturity date” for you returning the €10 to me?
Answer: Should be 1st July, 2012 but according to the Department of Finance, it’s 30th May 2012

Cast your minds back to the “deal” on the Anglo promissory notes announced in the Dail by Minister for Finance, Michael Noonan on 29th March 2012. Remember we were supposed to pay Anglo €3.1bn in cash which we were getting from the EU/IMF bailout funds. Instead Minister Noonan raided NAMA’s coffers and took €3.1bn from it, paid Anglo, but told NAMA that it would get its €3.1bn back in no more than 90 days from Bank of Ireland. Sounds more convoluted that it actually is. Yesterday in the Dail, Minister Noonan responded to questions from the Sinn Fein finance spokesperson Pearse Doherty on  the “deal”. You will…

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