NAMA day

Nearly a year and half since the Irish financial industry crashed and burned, the clean-up operation has finally begun. Today NAMA announced the first tranche of loan purchases from Irish banks for an average 47 per cent discount. Read the latest here on RTE. The real crowd pleaser, however, has been the recent arrests of Anglo Irish Bank's old boss Sean Fitzpatrick and then its financial officer William McAteer. Both were questioned by Fraud Bureau officers. Ex-chief executive David Drumm is now living in Boston and has not been questioned by officers. People cannot be forced to return to Ireland for questioning unless criminal charges are brought against them. Now all that's left to deal with are the dodgy auctioneers, brokers, solicitors, builders and developers who scammed buyers, fixed prices and falsified paperwork.