Oireachtas Joint and Select Committees

Thursday, 2 April 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of Joe HigginsJoe Higgins (Dublin West, Socialist Party) | Oireachtas source

Mr. Moran advises NAMA in certain aspects. Quoting again from the book by Deputy Shane Ross and Nick Webb:

Jones Lang Lasalle was able to keep afloat through hefty fees from NAMA [after the crash]. In September 2011, John Moran said that the company's work for NAMA was relatively good for us in 2010. He was putting it mildly. The former firm was the biggest recipient of valuation fees from NAMA, as noted above [in the figures given]. That figure represented only a portion of Jones Lang Lasalle's income from NAMA. The company also earned €2.8 million for portfolio management fees over the same period.

Is it unfair that someone thinks estate agents in general, including Jones Lang Lasalle, cleaned up in the bubble and prices were going well and were cushioned in the crash while many ordinary people who suffered had no such lifeline? Is that unfair or fair?

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