In 2009 a National Asset Management Agency was put into place in order to bail out banks for giving obscene loans, this agency promptly bailed out these banks, today still wanted by wanted by the government, it survives as a policy of fortune, so if your bank has a problem and no other agency can help and if you can understand it, maybe you can hire NAMA.
So in short NAMA will function as a bad bank, acquiring property development loans from Irish banks in return for government bonds, primarily with a view to improving the availability of credit in the Irish economy. The original book value of these loans is €77 billion and the current market value is estimated at €47 billion.
Hopefully this video will best describe Nama.
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