Wednesday April 8, 2020

Nama: bailouts and handouts

Nama won’t change how the banks have lost the moral authority to pursue individuals for the full amount of their debt by treating big developers and ordinary borrowers differently

25th July, 2009

Setting up the National Asset Management Agency (Nama) was never going to be easy. But as we get closer to seeing some €80 billion of property loans transferred over to the state, we are in real danger of entering a new kind of moral hazard.

Having the taxpayer purchase developers’ loans from the same bankers who lent out the money in the first place, is unpalatable. Without it, the banks will go under and therefore...

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