Oireachtas Joint and Select Committees

Thursday, 26 September 2013

Public Accounts Committee

Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency

1:30 pm

Photo of Eoghan MurphyEoghan Murphy (Dublin South East, Fine Gael) | Oireachtas source

I am sure. Mr. McDonagh when referring to salaries and retention of expertise in his opening statement was giving a warning in a sense in the context of the commentary in the past about a soft landing and the questions about why we were not warned. When we look back at another area in which a State agency made a big mistake, we see all the meetings were held, different discussions and papers were involved and all the rigorous process was gone through but it was a massive mistake for the State. I have a worry when I see this as NAMA stepping outside its brief in this regard by getting involved with private entities to purchase loans from itself. I have a concern about that.

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