Mick Wallace (Wexford, Independent) | Oireachtas source

When the assets were moved to NAMA for more than €30 billion it was not expected that the agency would just get its €30 billion back. The assets were valued at over €74 billion before they went to NAMA. That was their book value in the banks. It was expected that they would reach somewhere in between, at least, which would put the figure around €60 billion. The notion that NAMA is making a profit is rubbish. I suggest that the Taoiseach read the interim report more carefully because the judge is saying that NAMA is not giving him what he needs.

On the issue of deleting emails, the Comptroller and Auditor General conducted an audit of this NAMA policy. It was never published but I got it under freedom of information. The Comptroller and Auditor General stated: "The deletion of emails, in particular board members' emails, is contrary to and may compromise the principles of good governance". He also stated: "There is a further risk to NAMA's reputation when it becomes known that emails are being deleted, which may also have consequences for information sought under of freedom of information legislation." In response to the recommendations from the Comptroller and Auditor General, NAMA paid PricewaterhouseCoopers, PwC, to do a report. PwC has been paid €10 million by the agency and, what a surprise, the PwC report is full of derogatory rubbish about how the Comptroller and Auditor General has provided no evidence to support his findings.

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