NAMA???

When we were given the title of this blog I really did not have a clue what I was going to write about. I thought my blog is only going to be a sentence long so I emailed my dad to find out what NAMA actually is. I'm not going to lie I have heard about it on the news and in newspapers but I still really don't know much about it. I rarely watch the news and in Germany I did not even have a television. So my dad filled me in on Irelands economic situation, which is always good to know I suppose.The impression I get is that without NAMA we would be a third world country. Our bankers were stupid and gave out loans to people who could not pay them back in times of financial crisis. So, luckily those bankers have been sacked! Now NAMA is looking after the country and making sure we can pay all this money back. NAMA is now the biggest property owner/ developer in Europe, am I right? The Irish tax payers (you and I) are now paying for the mistakes of all the banks- doesn't seem fair to me- not that I get taxed much but still not very fair to those who do. All of this confuses me and it doesn't interest me much because I don't have to worry too much about the Recession yet, not in the working world yet. Seems like the country is in a lot of debt but I just want to know when are we going to be a rich country again.