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The Banks lied to NAMA?

If the banks lied to NAMA the lies would have been ineffectual. NAMA was mandated to buy loans from the banks above market value. Almost any “value” put on these “distressed assets” since the formation of NAMA would have been above market value.

This was calculated to assist the banks. After all, the banks discarded the loans and the incipient responsibility for the assets securing the loans. Instead, they had money or money’s worth.

What possible lie could a banker tell NAMA that NAMA and the Government had not already slipped over on the public?