NAMA's sale of its Northern Ireland loan-book was not well designed and showed up failures of corporate governance according to the taxpayers watchdog.
The Public Accounts Committee's report says the sale of Project Eagle was seriously deficient, leading to a loss to the taxpayer of more than 200 million euro.
It also criticises Finance Minister Michael Noonan for meeting the winning bidders in Dublin the day before the sale was completed.
In a statement he's refuted the finding saying it was part of his job to meet international investors visiting Dublin.
Fine Gael members of the Committee objected to the conclusion the meeting was "not procedurally appropriate", but Kildare North Social Democrat TD, Catherine Murphy, says she would have been even tougher: