Transfer of Anglo assets to NAMA was ‘bizarre’

THE expensive transfer of state assets from nationalised Anglo Irish Bank to NAMA was branded “bizarre” by one of the country’s leading financial experts last night.

Former National Treasury Management Agency (NTMA) boss Michael Somers raised questions about the situation at the MacGill summer school gathering in Glenties, Donegal.

Mr Somers said the only people who seemed to be benefiting out of the movement of toxic loans to NAMA were lawyers and professionals.