Security breach raises questions for Nama

Nama could find itself in a high-stakes poker game if potential buyers already know what values it has put on its properties, writes Ian Kehoe.

Ian Kehoe - avatar

Ian Kehoe

15th September, 2012
'As it attempts to auction off €32 billion of property during its lifespan, secrecy is Nama's main weapon -- perhaps its only weapon'.

It is actually quite hard to comprehend that such a document actually exists. One giant, sprawling spreadsheet containing all of the sacred financial secrets of Ireland's National Asset Management Agency (Nama). A document detailing the 11,000 loans the agency acquired, and the valuations for each of the 16,000 properties connected to them.

It is harder, however, to fathom just how a middle-ranking Nama official could gain access to this confidential database, copy it and then email vast...

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