The financial heads that didn't roll

Did the banks mislead Nama about the quality of their loans and thus their predicted 'haircut'? If they did, why are they getting away with it, asks Ian Guider.

22nd January, 2012
The financial heads that didn't roll
Frank Daly, chairman, and Brendan McDonagh, chief executive, Nama: dealing with incompetent bankers. Photo: Collins

So many scandals have emerged since the banking crisis began in 2008 that it's impossible to keep track of their outcomes. What has become clear is that no matter how much public money is at stake, the prospect of anyone from the financial world facing serious criminal or regulatory sanctions is small.

Just over a week ago it emerged that the Central Bank's investigation into how the banks so badly underestimated the discounts on their Nama-bound...

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