NAMA losses - Banks can’t be trusted

Finance Minister Brian Lenihan has warned that bankers who provide “misleading information” to the National Assets Management Agency could face criminal prosecution.

In an interview on RTÉ’s Morning Ireland, he stated that the difference between the original figures for NAMA and the revised projections were essentially the result of misinformation originally supplied by the five participating banking institutions.

This was a blatant attempt to mislead the Government. “We didn’t rely on the figures,” the minister explained in a startling admission. “We didn’t trust the banks. We weren’t hoodwinked by the banks.”