Endas blog

NAMA stands for: National Asset Management Agency, it has been set up by the government to manage bad debts of Irish banks with government bonds and not cash. It's a very complicated way of getting the banks out of trouble that they shouldn't be in. The banks gave away money far to easily in the past and not they are being bailed out. This is probably a sign that they will not even change their ways in the future if every time they mess up they know they will be bailed out.