NAMA is a class robbery

ireland / britain | economy | news report Wednesday September 16, 2009 23:56 by WSM - WSM wsm_ireland at yahoo dot com

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 http://wsm.ie/notonama

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There is an 'Alliance Against Cuts' demonstration this Saturday against NAMA. under the slogan 'Stop The Cuts! No More Bail Outs! Protest!' starting at 13.00 at Parnell Square.

The Dublin WSM branches are mobilising for this and the 1st of May branch in particular is putting out a call for a distinct anarchist / libertarian bloc on the march. We'd like to invite you to take part in that bloc. In order to maximise numbers we are asking people to meet up at 12.30 outside the Ambassador at the Parnell Monument as previous experience is that if a demonstration is large unless we meet beforehand it can be hard to find each other on the march. We'll have our banners and a good number of plain red & black flags for the march, we'd like you to similarly bring banners, placards etc and help make this a very visible bloc.

Two weeks after the NAMA march will see the coming together of the Social Solidarity Network at Seomra Spraoi, an event called by Workers Solidarity Movement , Revolutionary Anarcha-Feminist Group and members of the Seomra Spraoi collective but which is open to all. Meeting up and marching together this Saturday will help build towards this important event.

We hope to see you on Saturday
1st May branch - WSM

For information on the 'Alliance Against Cuts' demonstration see 'http://www.indymedia.ie/article/93620
For information of the Social Solidarity Network see http://www.indymedia.ie/article/93882
For WSM writings, audio and video on NAMA and the crisis see http://www.wsm.ie/notonama