Mick Wallace RT @wallacemick: Would mean something for Irish people and the notion of 'Irish Neutrality' if Irish Minister for Foreign Affairs @simoncov
Mick Wallace It would do something for #EU credibility if it were to acknowledge the amazing selfless role that #Cuba has played… https://t.co/I8G0EcxRxz
Mick Wallace RT @wallacemick: EU has supported the #US #Saudi #UAE #Israel Regime Change effort in #Syria for 10 years. And now #EU pretends that it car…
Mick Wallace #Eritrea 's Isaias Afwerki made an evil pact with #Ethiopia President to destroy the TPLF and #Tigray - And then W… https://t.co/9lH2snOfLg

Finance

Press Statement

3rd November 2016.

Update on the work of NAMAleaks.com

 

NAMAleaks.com has received a large variety of communications and documents in relation to NAMA, two in particular relate to -

1. Details of events in Northern Ireland, pre 2013, regarding the sale of the Northern Ireland Loan Portfolio, referencing individuals who have been arrested in Northern Ireland

2. Information on the procedures within NAMA regarding the Freedom of Information process, and deliberate attempts to conceal certain information.

Mick Wallace stated -

“We have received much information on the NAMAleaks site that we need to take stock of, we need to be very measured in how we deal with it. Clearly, the information that has come in has reinforced our conviction that all is not well within the National Assets Management Agency.”

“It is imperative that the Government immediately set up an arm of the Garda Bureau of Fraud Investigation, with extra powers and resources, to investigate NAMA, and that there is full anonymity given to whistleblowers”

“I plan to raise both of these issues in more detail, in the Dáil Chamber, in the coming weeks and months.”

If you have witnessed poor practice within NAMA, contact us securely and anonymously, at namaleaks.com

NAMAleaks.

Ends.

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For too long the Minister for Finance and Taoiseach have displayed breathtaking indifference, and at times arrogance, to any form of oversight of NAMA.

 

The C&AG Report deals with just one aspect of NAMA's operation - if the Government want all the truth in the open, only a truly Independent Commission of Investigation has any chance of exposing just how dysfunctional this organisation has been, and what the cost has been to the people of Ireland.

 

Until then, the proceeds of the sale of Project Eagle should be frozen, under the Proceeds of Crime Act' and all NAMA activities should be suspended

 

Mick Wallace.

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Many people in Ireland would be of the opinion that this place here - the bubble that is Leinster House - is a bit disconnected from the real world. No two recent issues emphasise that as much as the Apple tax issue and the NAMA scandal. Richard Murphy, a professor of practice in international political economy in City University in London also happens to be a director of the Tax Justice Network in England. After this episode broke and when Apple and the Irish Government decided they would appeal the decision that €13 billion plus interest would have to be paid to the Irish people by Apple, he stated:

Apple will, even if it will not say so explicitly, see itself as the representative of all those multinational corporations that have believed it their duty to arbitrage tax and other regulation to minimise their costs to supposedly maximise shareholder returns and to actually provide the basis for paying astronomical executive bonuses.

They have seen tax haven activity as an integral part of this process. Years of familiarity with the games that tax lawyers play has meant they have ended up thinking there is nothing unusual with headquarters companies that have no staff or apparent trade recording vast amounts of profit and paying no tax on it anywhere...

Ireland’s appeal is different. It is about the right of a political elite to so effectively capture a democracy that a place is not run for the benefit of the people of that jurisdiction but instead for the benefit of a small, wealthy, international elite and the companies that they manage, with which elites’ shoulders those local politicians want to rub. Ireland’s government will in this sense see itself as the representative of all tax havens and of those politicians who have such contempt for their electorates that they can turn down €13 billion of taxes.

What that means is that when these appeals happen, as surely they will, what will really be on trial will be globalisation itself. Globalisation is the market based expression of the ideology of the Washington Consensus. It was always intended to favour a few, increase inequality, buy favour wherever it could find it, capture legislatures for its own purposes when that was necessary and create spaces veiled in secrecy where the rule of law that applied to the little people could be circumvented by the few. This is precisely why tax havens had to exist: they are not an accident in their modern form. They are instead a deliberate part of a design.

How damning that is from a highly respected professor in England who is calling it as it is. There is no smudge or flowery language; just calling it as it is. When, in God's name, will we wake up and start calling things as they are? How long more will this Government take the people of Ireland for fools? That is what is happening.

  The NAMA scandal is more of the same stuff. Last night's BBC "Spotlight" programme adds further weight to the need for a truly independent commission investigation into NAMA. What a contrast between the BBC "Spotlight" programme and our own State broadcaster, RTE, which is afraid of its life to go near the subject. What is going on? It is unbelievable. For anybody looking at the video last night, it was mind-boggling to see these bundles of cash passing hands. It was kind of scary. This person takes cash from a developer and prevails on his friend Ronnie, one of his best mates, not to enforce. Given that he had just got to know Miskelly, how many others had he done deals with? Republic of Ireland developers were enforced upon four times more than developers in Northern Ireland. Why does NAMA not tell us why? If he was arranging refinance, he must have known what the NAMA number was for the loan - a number which is supposed to be confidential and commercially sensitive. Who gave him these numbers? NAMA claimed he had no access to any commercially sensitive information. Who, in God's name, believes that anymore? How could this man be able to command so much money if he had no confidential information? Can anyone explain that to me, because NAMA is not explaining it?

 It was insinuated in the programme that political pressure could be put on Dublin to reduce the price. I assure the House that the Project Eagle portfolio was probably sold for approximately €500 million too little. The Government was running around in a tizzy as it sought to investigate Pat Hickey and the Rio scandal that involved a couple of hundred thousand euro, but it does not want to know about hundreds of millions of euro in this case. I suggest that when we eventually get to the bare truth of the moneys lost by NAMA as a result of the manner in which it has operated, we will be talking about billions of euro rather than hundreds of millions of euro. Does the Government care? It does not want the €13 billion plus interest that Apple should be paying in tax. It does not want to know about all the money that went missing in NAMA. It does not want to know about any of the issues that have been raised.

While I accept that everybody connected with NAMA is 100% innocent until proven guilty, I suggest that enough questions have been asked and enough information has been brought to the table about what has been going on to require the Government to question its position on this issue. How in God's name could Fine Gael, which used to boast that it did things right, vote against having an independent commission of investigation into NAMA? How in God's name could Fianna Fáil, which pretends to be in opposition, pretend that all is well? The Labour Party is not even worth talking about. Nothing surprises me about the members of that party. I do not know why they have not joined Fine Gael. All of this stinks to high heaven. I do not believe for a second that the Minister thinks everything is okay. He is not stupid. The Government knows that everything is not okay. It is pretending that it does not want to know, or does not want to lift the covers. What is it going to do? It has spoken about protecting our international reputation, but I suggest our reputation is muck in Europe at the moment. I have spoken to several people in Europe this week about the Apple episode. They think we are nuts. Not only have we been complicit for many years as a tax haven, but we have also been robbing other jurisdictions of tax. That is what we do. We rob other jurisdictions of tax due to them. We have helped Apple to build up a bundle of more than €200 billion in cash outside the US while wondering why there has been an increase in inequality in the developed world. If those who can best afford to pay choose not to pay, inequality will rise further before the problem is solved.

I believe change is coming and rogue states like Ireland are going to be called to account. I do not think we are going to get away with behaving like this anymore. The Government says it is worried about this country's international reputation, but I wonder whether it has realised that huge investment funds have invested a great deal of money in property portfolios in Ireland. What will these funds think when they find out that some of the property portfolios that have been put together are the result of ill-gotten gains and malpractice within the NAMA organisation? What will the Government do when these international investment funds, which like to think they do things cleanly, find out they have got into bed with a crowd of rogues? Will it reduce their tax even further here? I have already written to the European Commission to make the claim and challenge the Government's real estate investment trust arrangement, which was introduced in the Finance Bill 2013. It is another form of state aid to investment funds that come in here. It is state aid. How in God's name is it not? They are going to pay no tax here and they have completely distorted the property market. Talking about property and the housing crisis, I remind the House that the Government intends to let NAMA build 20,000 houses at a cost of approximately €320,000 each even though the State, through the local authorities, can provide houses for less than €200,000 each. Does the Government think it makes more sense to let NAMA at it even though its name is dirt?

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NAMALEAKS.com launches

Monday, August 15, 2016

Watch the video - https://youtu.be/RYsoYnyZcb0

Namaleaks.com, the secure and anonymous whistle blowing platform has launched today, Friday August 12th 2016. Namaleaks.com will allow for anyone who has been unfairly treated or who has witnessed poor practice by NAMA, or by any Investment Funds currently operating within Ireland, to securely and anonymously deliver information relating to same, to namaleaks.com. This project is supported by Mick Wallace, Clare Daly, Frank McDonald, Julien Mercille, and Cormac Butler. 

 

Julien Mercille is an Assistant Professor at UCD's School of Geography, Planning & Environmental Policy and frequent contributor to the Sunday Business Post, Journal.ie and Broadsheet.

Frank McDonald is a former Environment Editor of the Irish Times and author of several books. Currently columnist for the Irish Arts Review and occasionally the Irish Times 

Cormac Butler is an equity and options trader and a former consultant with Lombard Risk Systems London and has also worked with KPMG and PricewaterhouseCoopers

 

Namaleaks.com is the first of its kind in Ireland, both in terms of security and anonymity. Namaleaks.com was created with the assistance of the US based 'Freedom of the Press Foundation' along with experts who work closely with whistleblower Edward Snowden. They are world leaders in creating safe and anonymous electronic systems. There are several ways to contact Namaleaks.com, depending on the level of security and anonymity you require. You can communicate and deliver information / documents via encrypted email or encrypted mobile text. This is explained in greater detail at namaleaks.com. If you wish to remain completely anonymous, namaleaks.com provides instructions on how to set up an anonymous email account in order to contact us. 

All information received will be checked, cross-checked, and evaluated by the team of five as mentioned above, who will utilise any further necessary expertise, before deciding how best to use the information. 

Since its inception in 2009, NAMA has, to quote An Taoiseach Enda Kenny, operated as a "secret society". It is unfortunate that our Government does not want NAMA to be accountable to the people of Ireland. Much information has already come to our attention which highlights serious problems in relation to how NAMA has operated - there is little doubt but that the best interests of the people of Ireland have not always been served by this State organisation. Despite the fact that many worrying issues regarding NAMA have been brought to the attention of the Government and the Opposition, on the floor of the Dail, there remains, a stubborn reluctance to hold NAMA to account, or properly address the serious concerns through a Commission of Investigation. 

 

It is deeply disappointing that Fianna Fail do not want an investigation - they say that there may be a need for one when all other investigations have been completed, but that will be three years from now. Clearly Fianna Fail do not want an investigation into NAMA. So while the National Crime Agency in Britain, and the Securities & Exchange in the US, have seen fit to commence investigations into NAMA's Northern Ireland loan portfolio, Project Eagle, the jurisdiction with most cause for concern, the Republic of Ireland, wants to turn a blind eye. It is not the citizens of Northern Ireland or America who may be paying a heavy price for how NAMA has done its business - it is the citizens of the Republic of Ireland. 

Namaleaks.com intends to do what Fine Gael, Fianna Fail and Labour do not want to do, that is, hold NAMA to account in the interests of the people of Ireland.

Good heartiness is a result of proper supply and hygiene. How can medicaments hels up? Circumstances that can influence your choice when you are buying medications are different. Below are basic reasons about cialis vs levitra vs viagra which one is better. Surely there are also other momentous questions. Choosing the ideal treatment variant for a racy disease can get really confusing considering the advantages and disadvantages of the existing treatment methodologies. When you buy remedies like Cialis you have to think about levitra vs cialis vs viagra. The most significant thing you must look for is which works better viagra or cialis or levitra. A long list of prescription drugs can lead to erectile disfunction, including many blood pressure medicines, pain remedies, and most of antidepressants. Sometimes the treatment options may turn on erectile dysfunction remedies or hormone treatments.

namaleaks

THE TRUTH IS COMING....

Namaleaks is a project that seeks to uncover possible injustice and poor practice related to NAMA (National Asset Management Agency) and financial institutions in Ireland.

VISIT THE WEBSITE

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