He is being interviewed on Newstalk at the moment and is saying that an inquiry will delay NAMA and this will delay lending into the economy.
He reckons this is because NAMA is taking up all the time of staff involved. An inquiry would decrease the staff available to NAMA (from the banks and DoF), and this would further delay the alleged "lending to the economy" which NAMA will ensure.
He believes the inquiry should be done by Oireachtas committee after NAMA is up and running.
FF seem very keen to have NAMA established before an inquiry. I wonder why..
According to Frank, the problem in the Irish economy is simple. The Regulator and DoF screwed up, and the banking system itself screwed up. Frank, of course, is not responsible for anything, despite the fact that he was a member of government and a small time developer/speculator with close ties to bankers.
He also pulled the classic FF line of "other countries failed to regulate their banks too"