Oireachtas Joint and Select Committees

Friday, 20 December 2013

Public Accounts Committee

2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012

12:50 pm

Photo of Mary Lou McDonaldMary Lou McDonald (Dublin Central, Sinn Fein) | Oireachtas source

I am raising it with you for two purposes, the first being that, whatever about the particulars of the turn of events that we are discussing here, it is not the first time that a complaint has been made in respect of NAMA’s handling of personal information, of business data. The second is that while I understand the pride you take in your organisation, which is very worthy, you are aware that many of us view NAMA as virtually impenetrable. Notwithstanding Mr. Daly's and Mr. McDonagh’s comments about oversight and accountability, you are not amenable to us as parliamentarians in any meaningful way. You are immune to freedom of information legislation and that creates a ready perception not of wrongdoing but of secrecy which lends itself to the unfolding of situations such as the one we are dealing with here. We have raised this issue less often with you than with the relevant Ministers with whom we have raised it time and again. It is not helpful, given the scale of the assets you manage, and your task, that you are out of the reach of democratically elected persons such as us. I accept that your fortunes and the financial fortunes of the State are joined at the hip.

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