Alan Kelly (Tipperary, Labour) | Oireachtas source

The minutes of the board meeting on 12 September state, "The Board agreed that the paper and analysis presented therein presented a compelling commercial case to sell the portfolio, and that in addition such a portfolio sale would release NAMA from what had been a disproportionate burden of effort in light of the relative size of the portfolio".

That is an interesting statement. What does "disproportionate burden of effort" mean? Mr. Mulcahy called it an inspired transaction that would require a great deal of resources and told us that his greatest concern was that PIMCO would go away. Was it a case of getting it done as quickly as possible?