Mr. Frank Daly:

We take tough decisions every day in NAMA, from individual staff members right up to the board, in respect of issues that come to the board. At the end of the day, we are accountable to Parliament, to the Oireachtas, to this committee, etc. It is important that all of the organs of the State and the general population have confidence in NAMA so we see it as something that we have to defend. This is an attack, really, or allegations essentially about the integrity of NAMA and the people in NAMA. It is not just quite natural for us to defend it, it is a responsibility for us to defend it.