Banks’ future in Lenihan’s hands

Nama will ensure a reprieve for the financial institutions it assists, yet it could be their undoing in the long run, writes David Clerkin, Markets Correspondent

1st August, 2009

Out of the frying pan but into the firing line. While there is much to cheer for the country’s banks in the draft legislation setting up the National Asset Management Agency (Nama), life after the transfer of their €90billion property loans will have its drawbacks.

The proposals unveiled last week provide for unparalleled government influence in the future management of banks and building societies which take part in the Nama framework, with...

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