Plans for NAMA to spend €2.5bn on professional fees ‘crazy’

PLANS for NAMA to spend €2.5 billion on professional fees were denounced as “crazy” in the Seanad yesterday.

Independent Senator Fiona O’Malley attacked the move to “fork out” such a huge amount at a time when the Government was seeking €4bn in spending cuts.

The former PD TD said it was “little wonder” professionals were rushing to give their backing to the assets management agency as it had such a large fees base.