Joe Costello (Dublin Central, Labour)
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With multiple Departments involved and no proper lead Department. That this could have happened and that someone could have made a decision knowing full well that the property would not be available for swapping for a considerable period, and knowing also that we were in a bubble in the development market and that prices were going out of control in 2006, mean a lot of questions have to be answered. Having a lead agency and somebody responsible for any proposed future swap in the future would be highly important. Is it also a fact that, through a fluke, more or less, NAMA has done well out of it? Is it the case that while the original value was €77 million, the houses built by the developer, thereby fulfilling his part of the deal, were sold for €46 million, and the compensation amounted to only €31 million, the State, by default more or less, did not end up being a loser?