Lenihan criticised as plan to pay inflated price for loans retained

THE opposition last night criticised Finance Minister Brian Lenihan for sticking with his plan to buy loans from the banks at inflated prices.

They also criticised the revised bill to establish NAMA, saying the changes made did not go far enough to protect the taxpayer.

Once established, NAMA will purchase €90 billion of loans from the banks at a discount in a bid to cleanse their balance sheets of risky debt and return them to health.