Secrecy surrounding NAMA needs to be undone

Government is largely composed of people who opposed the wall of secrecy around NAMA, writes Fergus Finlay.

WHEN something is started in secrecy and operates in secrecy, it runs the risk of scandal. When it is also given immense power, the risk increases. When it has to report to nobody except the minister, it becomes harder and harder to escape the perception of scandal.

Fine Gael knows that. They said it again and again during the debate that led to NAMA. They even opposed its establishment. And one of the key reasons they gave for opposing NAMA was “the growing concerns from creating a secretive, politically directed, state-managed, tax funded work-out process for 1,500 property developers”.