NAMA is a class robbery


The economic crisis we face in Ireland is that huge amounts of money have been lost with the collapse of the property bubble. The question is, who will pay? Will it be the crooked bankers and dodgy developers responsible for this mess, or us, the ordinary working people?The NAMA scheme is an attempt to make us pay for their screw up. It aims to take the losses off the banks by buying toxic loans backed by devalued property at double what they are worth. This is class robbery. The rich minority of bankers, developers and bank shareholders get bailed out and we carry the can.

The various alternatives to NAMA that opposition parties are putting forward are not good solutions for us either. Even if the bankers & co. pay up, there still isn't enough money to pay the Celtic Tiger's bar bill now the party's over. As long as we stay within the accounting rules of the system, the state can't balance the books without attacking our living standards. No matter what party is in government.

In a crisis all pretences of social partnership go out the window. In a class society, the first plan from the bosses is always the best for them and the worst for us. We don't need to know what Plan B actually is to know that it can't be as bad as Plan A. Solving capitalism's problems is not our problem. The success of our struggle against being made to pay for this crisis will determine the future for our children and the next generation.

If you liked this leaflet and want to read more about the NAMA, the crisis and the WSM take on it all, see