Vitis: Nama needs goodwill
The public reaction to Nama could very well determine the success or otherwise of the agency. If Nama is to make the most of a bad lot (no pun intended), then it is going to have to take some skin in the game. It will have to help finance the completion costs of some projects and engage the services of property developers to finish off other projects.
Otherwise, the returns the State agency will deliver will be well short of what can be secured by the taxpayer.
But what if simmering public discontent escalates and turns its fire on Nama and the perception gaining currency that it is nothing more than a bailout for property developers? Again, the Government is running the risk of a dangerous disconnect with the public which has the potential to backfire.
