Fine Gael's new finance spokesman Michael Noonan has criticised the five banks whose loans were bought by NAMA, following reports that the institutions provided inadequate information about the performance of the loans involved.
Mr Noonan said it now looked like NAMA would lose money, even though it had originally thought it could make a profit.
He said it was another example of the banks providing less than full information to the Government, and he called for the bank directors who served when poor banking decisions were made to go.
Mr Noonan said it was time for a new culture inside banks, and confidence needed to be restored to the banking system. He said in recent years, the banks misled their shareholders, the Government, Dáil committees and the public about the real state of the institutions.
He said it was ridiculous that more than half the boards of directors of banks are still the same as they were before the crisis took place.
