Friday 28 July 2017

Banking on NAMA

NAMA is the appropriate infrastructure to filter and cleanse the 'bad loans' made by the various financial institutions during the past decade.

We are an island nation -- so, by definition, we are insular. Government policies during the runaway lending spree of the previous administration encouraged bad lending practices in pursuit of greed by the boards and management of the banks.

However, the creation of NAMA as an asset management company was the best solution available at the time and I suggest it remains true today.

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