Tuesday 12 December 2017

Gene Kerrigan: Ours is a country flush with idiots

How did developers get into this mess, and what does it mean for the rest of us, asks Gene Kerrigan

SO, THERE I was, standing in the kitchen, when this billionaire property developer came on the radio. He sounded almost as befuddled as I felt -- but, then, we were both in danger of being overwhelmed by our respective problems.

The billionaire property developer was Bernard McNamara. A nice guy, by all accounts, but a bit of a loser. (When I say "billionaire property developer", what it means in Mr McNamara's case is a developer who owes a billion and a half.)

I waited for Mary Wilson to ask him what for me was the crucial question. But she didn't. Mary was more interested in deals gone wrong and complicated legal suits.

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