Lenihan tries to dampen fears NAMA “bad bank” plan is little more than rough outline
May 18th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The State debt agency National Asset Management Agency (NTMA) will have responsibility for the planned toxic property debt agency or "bad bank" to be known as the National Asset Management Agency (NAMA) and last week, Dr Michael Somers chief executive of the NTMA said he did not know how NAMA would be set up or operated, six weeks after Minister for Finance Brian Lenihan had made an announcement on NAMA, during the presentation of the April Emergency Budget. Lenihan today tried to dampen fears, that the NAMA plan is little more than rough outline.