Saturday June 6, 2020

Nama is a moral hazard generator

Nama debtors have been emboldened by their experience

9th August, 2015
Nama headquarters: we have no idea whether its 2014 profit was a good one or a bad one.

The National Asset Management Agency exists to destroy itself. That’s a funny job to have.

Nama was set up in the teeth of the crisis to save the banking system and the Irish economy. The idea was to move loans, both good and bad, off the books of the banks, swapping them for cash which would make the banks look healthier.

These loans were mostly secured on property in Ireland and abroad. Then...

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