Fiona O'Loughlin (Kildare South, Fianna Fail) | Oireachtas source

I endorse the positions of my colleagues, Deputies Michael McGrath and Fleming, and commend the good work being done by the latter's committee.

"NAMA" are the four letters that have struck terror into the hearts of many since the body's establishment. Many red flags have been waved since then. The Minister for Finance, who has responsibility for NAMA, had two options. He could have reacted quickly and appropriately, as there was a great deal of factual information available on the challenges, issues and problems. I accept that there was also innuendo, but there were enough facts to take action. Alternatively, he could have let the situation continue, which is what he did.

NAMA was established by the State and has been answerable to no one. Nobody was taken to task. Greater interaction was, and continues to be, needed. As NAMA's financial mission nears completion, it could take on board the large social obligation of the housing crisis. There could be more interaction and co-operation with local authorities on solving the crisis.

NAMA is outside the political sphere, but there needs to be political accountability. If the legislation needs to be changed to make it accountable to the House, so be it.

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