So Brendan at NAMA on 500,000 a year guaranteed is worth more than Geitner/Bernake combined ?

“Running a business and running a government are obviously different, but when it comes to compensation, government could probably learn a few things from well-managed corporations. Aligning pay with long-term performance can be a good way to change behavior for the better. We should give it a try.”

http://finance.fortune.cnn.com/2012/11/06/congress-pay-performance/

If a salary cap of €100,000 (including pensions) were put in place in the morning, how many NAMA staff would leave?
More importantly, would they be missed. I am quite sure that there are thousands of intelligent, able people who would the jobs these people are doing just as effectively on less than half the money being paid.
The bottom line is that a massive NAMA loss is on the way and the bonanza pay beneficiaries figure that they might as well milk the State for as much as the State allows itself to be milked.
The cute ones saw that very quickly.
NAMA is a gravy train, for staff, receivers, liquidators, valuers, property management people etc etc etc.
And I forget ‘primary servicer’. That must be one of the more obscure captions under which one hides obscenely high payments.

@NWL
Keep it up. Remember back in 1930s, a newly elected DeValera cut the pay of the PS with the comment ‘ no man is worth more than £1000 per year.’
I wonder what that translates to in today’s money.

If these people are worth so much, let them earn it in private industry.
Cut the pay and if they don’t like it then ‘don’t let the door hit them is the a** on the way out.

“The NAMA people are businessmen for hire and need to be paid the market rate for their skils”

Up to NAMA to set the pay scale in Ireland, do you think the market in Ireland for property professionals is that buoyant.The ‘reward’ is post NAMA..

Oh look….RBS has picked a buyer for Quinlan Private’s UK Marriott Portfolio…its its guess who………yep x NAMA Fox’s new shop,gosh imagine if when he was at NAMA he reviewed Quinlans business plans operating numbers and projections that be quite useful don’t ya think….probably worth a few bob extra to have that.

http://www.4hoteliers.com/4hots_nshw.php?mwi=8749
http://www.bloomberg.com/news/2012-08-16/rbs-seen-picking-abu-dhabi-to-buy-42-hotels-property-week-says.html

“He took more than a 50 percent pay cut to assume the job. His $199,700 salary is higher than the $174,000 earned by most members of Congress. His pay has been increased by $8,400 in three years, yet his net worth pales next to such predecessors as Hank Paulson and Bob Rubin. With two mortgages and two college-age children, the lure of private-sector money could be hard to resist. BlackRock’s Fink, for instance, received $23.8 million in salary and stock in 2011, making him No. 1 in the Finance 50, Bloomberg Markets’ annual ranking of the best-paid CEOs at the largest U.S. financial companies.”
link above.

Regarding x NAMA lads,pretty sure that old “FOX”,Ronan is doing quite nicely for himself with that humongous sovereign wealth fund from Abu Dubai,the ADIA that he joined….they still active in London then……….Fox was pretty high up at NAMA ,handling the UK wasn’t it,no restrictions or cooling off period huh..

“Only last week, Ronan Fox, a former senior asset manager at Nama, took up a new position as a real estate adviser with the Abu Dhabi Investment Authority (ADIA). Prior to his departure from Nama, Mr Fox had been responsible for borrower repayment plans, asset strategy and managing the selling down of a distressed loan portfolio of some €6bn, according to his LinkedIn profile.
Mr Fox’s new employers, the ADIA, has shown a renewed interest in UK real estate, reportedly closing in on a deal to buy a portfolio of 42 Marriott hotels currently in administration.”
http://www.independent.ie/national-news/exec-quit-nama-because-of-state-interference-3244310.html