Emmet Oliver: We'll wait years to see if NAMA was right choice
ACCUSTOMED as we are to instant reactions these days, many commentators get deeply frustrated when it comes to NAMA, the €72bn loan agency set up in 2009 by the last Government.
The modern media demands a type of black-and-white morality, where every government initiative is either greeted with unreserved delight or with outright hostility. Something is either a good idea or a bad idea, no ambiguity can be tolerated.
But as NAMA publishes an account of its first year in operation, we are fast realising that the loan agency cannot really be judged in 2011. It probably won't even be possible to evaluate the agency's strengths (or weaknesses) five years from now.