Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

All right, Mr. Buti, just two final questions I want to deal with. The last one I will take as ... I will allow you a bit of time to maybe just give your final remarks to the committee, but one is a specific item in relation to NAMA. And when developer Mr. Michael O'Flynn in evidence before this inquiry ... when he was here what he said was that, "NAMA was intended to save the Irish banking sector, but in fact hastened its demise and along the way added to the burden on the Irish taxpayer". Amongst the reasons cited was an inability on the part of NAMA, according to Mr. O'Flynn, to recognise the cyclical nature of the economic downturn and make a longer-term view of asset realisation and maximisation of proceeds. What is your assessment of that statement by Mr. O'Flynn and were there any credible alternatives to the NAMA model by your reckoning?