Earth to NAMA and Lenihan: Banks are only out for themselves

Like a difficult teenager changing its Facebook status to flag up a bad mood, NAMA has issued a revised business plan – and it makes very grim reading.

A now distinctly nervous looking NAMA has announced that in “the most stressed scenario of its lifetime” it is set to lose €800m – rather than the €4.8bn profit its proud parents had promised at its birth just last October.

Finance Minister Brian Lenihan and NAMA chairman Frank Daly both expressed anger and surprise that bankers had been even less forthcoming with the truth regarding their toxic loan books than they are with credit to what’s left of Irish industry.