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Tue 05 May 2009Initial staff of 50 adequate for 'bad bank'
THE STATE’S “bad bank” Nama could operate with a small core staff initially, but would need to hire more later to avoid mismanaging toxic loans, according to an accountancy partner who worked on a French bad bank in the 1990s.
Michel Barbet-Massin, a partner at accountants Mazars in Paris, said a team of 100 to 200 staff worked for a French bad bank created with €40 billion to €50 billion in toxic loans moved out of Crédit Lyonnais in 1995.
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