Let’s leave our useless banks with worthless IOUs, writes Mick O’Broin. Even before it emerged that the National Assets Management Agency (NAMA) was definitively bailing out developers, its dealings with banks were problematic. NAMA is, as Enda Kenny said from the opposition benches, “another blank cheque to bailout the banks”. And, like the bank bailouts in general, there has been a variety of voices pointing out the illegitimate nature of the public debt generated by NAMA.
