Oireachtas Joint and Select Committees

Wednesday, 22 October 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Operations and Functions: National Asset Management Agency

5:10 pm

Photo of Paul MurphyPaul Murphy (Dublin South West, Socialist Party)
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Another point relates to a question asked by Deputy Michael McGrath. When selling assets, physical assets or loans, NAMA says it has no social requirement and does not care who gets the assets or what they do. I refer to the 90% of assets that go to US funds, a good portion of which may be vulture funds such as Blackstone or Lone Star, which may aggressively pursue debtors. Do the witnesses consider it the job of NAMA to think about what happens afterwards? Is NAMA's job to maximise the return for the taxpayer and leave it at that?