Michael Somers, chief executive of Nama

AN ANONYMOUS group claiming to have the support of 2,400 people has bombarded TDs and senators with an email campaign to oppose the National Assets Management Agency (Nama), according to government sources.


Each of the 166 TDs and 58 senators in the Oireachtas has been sent emails pleading with them to oppose the Nama legislation, which is due to reach the Dáil in mid-September ahead of setting up the state's bad bank to buy toxic loans from lenders.


One government minister, who did not wish to be nam­ed, claims to have received over 50 emails from people opposing Nama in the last few days. Some of the emails have been signed but others have been sent anonymously. "The emails are all so similar and the questions so specific that somebody must be waging an organised email campaign against Nama," he said.


One email sent to all TDs and senators on Friday warn­ed the government: "Nama is a scam and the people know this... do not dare pass this in the Dáil." The sender claimed his group have gathered the support of 2,400 people in the last three days and "mome­ntum is increasing".


The same email warned the opposition: "If the government pass this, walk out from the Dáil and do not participate until there is a general election, and then reverse this. The people will be there to support you."


Opposition to Nama gain­ed momentum in recent days following the appointment of a provisional liquidator to two of the companies controlled by developer Liam Carroll. Carroll's extensive loans are expected to be among the largest initially acquired by Nama.


Hostility to Nama is growing as the potential 'fire sale' sell-off of properties held by Carroll's liquidated companies may set prices below the intended "long-term economic value" at which the government intends to buy loans through the agency."


After the Carroll judgement, the Department of Finance said Carroll's financial difficulties will not affect plans to buy toxic developments and related loans with a book value of €90bn.


However, the people behind the campaign do not believe this and one wrote: "In particular, I object to the proposal to value assets on a notional long-term economic valuation, especially as both the High and Supreme Court have rubbished similar suggestions in the Liam Carroll examinership case."