NAMA Fact or Fiction

As NAMA comes into force we are told that it has been created for the common good, we are told that NAMA is the saviour of the Irish Banking system and therefore the saviour of the Irish people who are presently struggling to make ends meet. Yet there appears to be much about NAMA that we don't know, will property developers/speculators who have run up debts of Billions of Euro be allowed to borrow again from these same banks, if an ordinary citizen borrows from the bank to build an extension to their house and then default on that loan, that ordinary citizen is quickly Black-marked and will never again be able to have a loan from that or any other reputable institution. Yet it appears from what has been said by the Government to date that No such Black mark will be put against the property developers/speculators who have at least contributed to the economic collapse of our Banking institutions. Nowhere has it been said that when NAMA takes on the Toxic Loans and Assets attached to those loans that proxy buyers would be allowed to buy these assets at discounted rates on behalf of the original developer/speculator. My guess is that by next summer the banks will need more money and the 54 Billion Euro of tax payers money already pledged to the banks will soon be nothing more than a deposit for the real bill that the developers/speculators and banks have run up during the period of much wealth and little regulation.