David Cullinane (Waterford, Sinn Fein) | Oireachtas source

The problem with NAMA's world view on this is that Mr. Daly said in his opening statement that - and he spoke about the success fee, Mr. Cushnahan and all of the conflicts of interest, which is fair enough - that NAMA had to weigh up the potentially serious costs and consequences for the agency if it were to withdraw from the process, for other State-owned banks and for the sovereign of halting a major loan sale. He also referred to the impact that might have in the future. By his own admission, the weight of the State, of NAMA - and its credibility - and of the State-owned banks were on his shoulders. There was pressure. It seems that the pressure was part of the reason the due diligence that should have happened did not happen.