Man Who Invented Nama Says It’s Not Doing The Job It Was Designed To Do

MAN WHO INVENTED NAMA SAYS IT’S NOT DOING THE JOB IT WAS DESIGNED TO DO

A Wexford based economist credited with inventing NAMA says it’s not doing the job it was designed to do.

Dr Peter Bacon says the agency has focused more on chasing debts than on increasing the value of its investments.

Dr Bacon is giving evidence at the Oireachtas banking inquiry.

He says NAMA hasn’t done enough to increase the value of the assets it’s taken over from banks.

In his personal opinion, he believes it acted more as a debt collection agency rather than a property value maximising entity.

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