Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Well, Mr. Ahearne, we've also heard, and I think it was Deputy McGrath who talked about what's been referred to as vulture funds and private equity funds which are flipping loans, and we have much of this in the media which ... where they're making massive profits because not only did NAMA crystallise the losses at a point in time of the property cycle but it also ... it also sold on the properties as a result of the troika programme to redeem its bonds. So, therefore, even ... if it was allowed to, as a bank would, to work those loans over a longer period of time, it would have gained the benefit. So to say that they're only going to make €1 billion, for example, you also have to look at how many billions the private equity funds have made in flipping the properties.