METRO Thursday, September 17, 2009 D Flash mob protest over Gaza killings FLASH mobs of Amnesty International activists will descend on Dublin this weekend to call for international action in the wake of a UN report which accused both Israelis and Palestinians of war crimes in last Januarys war in Gaza. The event will involve a large group of people suddenly appearing in a public place acting out scenes from the conflict while professional actors voice the testimonials of victims of the conflict and then disappearing. The events will begin in St Stephens Green at noon on Saturday. MENU THE Home Digest 4 Guilty Pleasures Celebrity gossip 6 Letters 10 World Digest 11 MetroLife Arts and entertainment 12-13 60 Second Interview City Chases Martin Paquette 14 TV 14-15 Classifieds 17-21 Sport 22-24 Help keep Dublin clean and tidy for everyone by taking your Metro with you and recycling it TODAY: A cloudy start but clearing later. Max: 17C TOMORROW: Dry and settled with sunny spells. Max: 16C METRO Weather ed debts which means Nama will only pay interest if it makes a profit. The banks to be rescued Bank of Ireland, Allied Irish Bank, EBS build- ing society, Irish Nationwide, Irish Life and Permanent and the now-na- tionalised Anglo-Irish Bank were already brought under a 400billion State guarantee last year as they tee- tered on the verge of collapse. Hun- dreds of protesters, including Opposi- tion party supporters and trade union activists, demonstrated against Nama outside the Dil, while inside Leinster House rowdy scenes punctuated the start of a debate on the plans. The parliament was suspended when Sinn Fin TD Arthur Morgan refused to leave, before finally being forced out of the chamber having been ruled out of order for repeatedly demanding Taoiseach Brian Cowen apologise to the nation for telling lies about the property bubble. This Bill does not have the support of the people. It amounts to an act of economic madness, said Fine Gael leader Enda Kenny. Labour leader Eamon Gilmore said the most serious economic measure brought before the Dil since the Irish Republic gained independence had huge consequences for the countrys future, and not just todays taxpayers but future generations of taxpayers. Bad bank to buy 77bn in loans at 30% discountBY BRiAn huTTOn IRELANDS new bad bank will pay out 54billion to banks in the biggest financial rescue bid in the countrys history, Finance Minister Brian Leni- han revealed yesterday. Under the proposals, the National Assets ManagementAgency will get a 30 per cent discount when it issues bonds effectively IOUs to six Irish banks for toxic property borrowings, which were valued at 77billion. Mr Lenihan revealed the current market value of the property and other assets for which the loans were taken out was 47billion. The 54billion pay-out would meaning Nama would be paying 7billion over the odds. But the Finance Minister argued the property market was now bottoming out and the value of the toxic assets would begin to rise again, with any risks shared between the taxpayer and the banks. Outlining the details to the Dil, he said the Irish people were appalled by the reprehensible behaviour of some in the financial system and in the property sector. There is a break- down of trust in the entire system, he said. We must all now overcome our anger and get on with the business of reform, he added. Nama will issue Government- backed IOUs known as subordinat- not banking on a good result: Labour supporters protest outside Leinster house as TDs debate the nama legislation Pictures: PA How Nama will try to get banks lending again BILLED as a bad bank, Namas role is to clean up the balance sheets of the countrys biggest finance houses so they have cash to lend again. The agency will take on so-called toxic loans, saddling the State, and the taxpayer, with risky debt and the job of chasing tens of billions in unpaid borrowings. It is offering the giants of Irish finance and lending 54billion 7billion more than todays market value. This price tag has been branded a bail-out for bankers by critics. Banks taking part in Nama will be given bonds in return for the loans effectively an IOU which can be cashed in at the European Central Bank. The idea is that they will then have more cash on their books to lend to businesses again, hopefully kick-starting the recession-hit economy. Finance Minister Brian Lenihan said Nama leaves behind smaller and better-financed banks and avoids the zombie bank phenomenon looking healthy on the outside without functioning as a lender which damaged the Japanese economy. But some experts predict it could take a decade to recover money owed or for assets to again reach the dizzying values paid at the peak of the boom. Under the legislation, anyone caught lobbying Nama faces prosecution. The International Monetary Fund and the European Central Bank have endorsed the scheme, but the biggest fear is that Nama does not value the debt correctly. Toxic: A protester dressed as a rich banker outside Leinster house Chris Martin: Relief Coldplay case for copyright is dropped COLDPLAY have come to an agreement with Joe Satriani over plagiarism. The guitar legend sued the band, fronted by Chris Martin, last year after claiming their song Viva La Vida featured substantial, original portions of his 2004 track If I Could Fly. American music magazine Billboard has reported that Satriani has dropped the case and the band would not have to take any further action. When he began his legal action, 15-times Grammy nominee Satriani said: I felt like a dagger went right through my heart. It hurt so much. The second I heard it, I knew it was If I Could Fly. 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