Thursday 18 January 2018

Daniel McConnell: Nama must earn our confidence quickly if it is ever going to work

Suspicion and mistrust still poison the bad bank's relationship with the Government, writes Daniel McConnell

The brilliant Bruce Springsteen famously once said: "Blind faith in your leaders, or in anything, will get you killed."

Since its inception in April 2009, the Irish people have had no choice but to have blind faith in the most unique, most costly, omnipresent, grotesque construction ever to be visited upon this country -- the National Asset Management Agency (Nama).

Three years on, the sums of money involved in Nama are simply staggering -- now costing more than €1m per working day to run, with €27.5m going on highly paid lawyers alone since it began -- yet it remains shrouded in mystery.

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