Forget Nationwide: set up an enterprise bank

RECENT media comment suggests Irish Nationwide may now require up to €2bn extra capital.

Injecting money we don’t have into an institution we don’t need makes no sense.

The idea that a mutual (run for the benefit of members) could actually be run by a select few for a select few,resulting in more than 80% of its loans being placed into NAMA, raises a lot of questions which I hope will be pursued with vigour by the authorities.