Will Nama pay the taxpayers back?

Just what should we make of Nama, the state's mammoth bad bank? In one sense, its establishment has been an abundant failure. After all, was it not set up to help fix Ireland's broken banks, thereby allowing them to provide credit to cash strapped indigenous businesses? Yet, in another sense, the agency has conducted itself with a quiet efficiency, going about its business of running one of the world's largest property-related companies.

It ...