NAMA has indicated it will take a “practical approach” to recovering payment from builders and developers. This is code for “we will do a deal with them and write off large portions of their debts rather than chase them”.

IT is incomprehensible that at a time when virtually all other businesses are reducing their prices, banks are increasing theirs, when most other businesses are cutting wages, banks are pursuing salary increases and when most other businesses are letting people go, banks are maintaining their staff levels, paid for now by Seán Citizen.