Open Window wrote:
Being NAMAd had nothing to do with the performance of the loans or the quality of the assets backing them, just the nominal value of the loans. Good loans were taken with bad such that the state had some prospect of breaking even. The performance of the loans and quality of the assets were accounted for through the haircut applied to the individual loans. If Durkans are as viable as they claim then I hope they've paid the outstanding monies in full and not just settled for the amount that NAMA bought them off the respective banks, otherwise, they've received the benefit of the NAMA haircut and should shut the fuck up and be thankful for the services of NAMA, something the Irish taxpayer will never be able to say.
Indeed, can anyone put a figure on the amount of Debt Forgiveness
Durkan recieved then, an official figure mind?
Worse still, Durkans may have just selected some of their tastier assets to remove from NAMA, leaving the junk to rot in NAMA. Either way, unless they've settled all outstanding debt at book value as borrowed initially borrowed plus all accrued interest and penalties, they've been one of the few beneficiaries of NAMA, despite any failing on NAMAs part to provide working capital or whatever their beef with NAMA is.