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Nama’s Cleanup Paid Back the State | Dublin News
Description
Ireland’s “bad bank,” Nama, has officially shut down after 16 years of cleaning up the nation’s banking mess — turning a massive financial liability into a net gain for the state. Despite fierce criticism and pressure from all sides, CEO Brendan McDonagh refused a potential bonus of up to €250,000 annually — totaling nearly €4 million over his tenure — while the agency returned over €5 billion to public coffers through cash, taxes, and land transfers, including hundreds of social homes. His quiet sacrifice stands in stark contrast to the bankers who triggered the crisis, offering a powerful lesson in accountability and integrity.
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