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Article: Donors to FF are laughing all the way to the bad bank; How Nama could save the builders and banks who gave the party cash.(News)
- Article from:
- The Mail on Sunday (London, England)
- Article date:
- August 9, 2009
CopyrightCOPYRIGHT 2009 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Luke Byrne
IT LOOKS a lot like 'you scratch my back, I'll scratch yours'. A score of developers who donated to Fianna Fail during the boom years stand to be rescued by the Government's controversial Nama scheme after the failure of their overambitious schemes.
Although Labour and Fine Gael oppose Nama - fearing it will saddle generations of taxpayers with the cost of bailing out banks and keeping developers in business - Fianna Fail insists there is no alternative and will bulldoze the plan through the Dail.
The party claims Nama is not a bail-oubut it is certainly being welcomed by banks and builders.
They include buccaneering ...