Brian Cowen (Laois-Offaly, Fianna Fail)

I ask Deputy Higgins to let me answer the question. We made the point that every loan would be examined on a case-by-case basis. The contention from the opposite side of the House was that it would be a sweetheart deal and the NAMA operation would not have rigour or due diligence. According to Labour Party Deputies, it was all part of a scam. We ensured that NAMA's valuations took account of subsequent reductions in property prices.

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