When a €3.5bn profit is actually a €40bn loss

As Nama looks to the end of its original projected lifespan and its legacy will be examined, it must start being honest with itself and the public about the basic facts of its existence, writes Daniel McConnell

It happened again this week.

Once again we heard the nonsense suggestion that Nama, the State’s bad bank, will deliver a profit by the time it is due to finish up.