Dr Alan Ahearne: Arguments of NAMA's critics built on shaky foundations
The setting up of the National Asset Management Agency was one of the most controversial decisions taken by the last government.
The criticism levelled against the agency has drifted over time -- often a sign that the critics are on weak ground. NAMA nowadays is under attack from some quarters for supposedly being an overly-secretive, expensive, overzealous institution. In some ways, the criticism is understandable.
The amount of public money involved in NAMA is very large, and the agency is restricted in how much information about borrowers and their loans it can put out in the public domain. Moreover, the property market remains depressed, with few transactions and prices still falling.