Who is Pat Eddery?
NAMA will return a surplus of 3 billion
When it was established the socialists said it would destroy the country and to let all the banks fail.
Easy make a profit when u get your assets for free. The only ones they were answerable were the Auditor and Comptroller General yet when they called Nama out on selling below market value they told them they hadnāt a clue of how the āmarketā works. They may have made a profit of 3BN but it should have been a lot more.
Was
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At the time they got their assets there was a view they overpayed for them as a sop to banks.
In hindsight they could have got more.
Youād be happy with how Project Eagle was handled I take it then?
Can COTY be awarded posthumously??
They packaged the assets in such a way that when they were being sold it was only super rich funds that could afford to bid. The seller shrunk itās own market. Why would anyone do that?
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Sweep sweep
In Ireland??? Say it aināt so.
Pat edderys daughters 
Yes real estate portfolio sales is a uniquely Irish thing.
https://www.google.ie/amp/s/amp.ft.com/content/7d615d52-def2-11e4-b9ec-00144feab7de?client=safari
https://www.google.ie/amp/s/amp.ft.com/content/e56641a8-b07c-11e6-9c37-5787335499a0?client=safari
Are you saying the C&AG got it wrong when claiming that NAMA could have realised more return for the taxpayer?
Less execution risk. Less political interference. Portfolios mixed up to be sellable.
Not a bad thing that commercial property in Ireland is owned by international institutions and not Irish developers all exposed to Irish banks.
He never said it was a uniquely Irish thing. He merely raised his eyebrows at the nature of the sales which have been proved to have cost this country millions.
If they were as honourable as you suggest why did they refuse to give evidence up north? A deal that both the UK and US authorities deemed worthy of investigation. C&AG are on record as saying NAMA did not succeed in their primary objective which was to maximise return for the Irish Tax payer. The only ones that benefited most from NAMA were massive US Hedge Funds and a few insiders involved in the deal. Noonan and Kenny met them and actively encouraged them to get involved while refusing to let actual mortgage holders bid for their own mortgages because of āmoral hazardā. Talk about cutting off your nose to spite your face.
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Thatās not what you said.
Iām not going to comment on the competency of NAMA.
I was commenting on your ignorance of the way the real world actually works. Portfolio sales are standard in finance.
Only in Ireland though 
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Why should they go to a different jurisdiction? No comparable body elsewhere would come to Ireland.
Bidding for own mortgages is not best practice anywhere that I can see. In a country this small and incestuous it is hard to see how it would have worked.
Hindsight is always great in terms of valuations but anybody involved in any deal knows there are no guarantees and during this time the financial system was and indeed still is susceptible to a major shock which would have hit valuations so better to get out the gate with a profit and not wait for more.
It must be pretty frustrating as a mortgage holder to not be given the opportunity to buy your mortgage when itās on sale at a massive discount. It would have been a nightmare trying to coordinate something like that though given then numbers involved. Also the level of discount was only available because it was a bulk sale.