John Deasy (Waterford, Fine Gael) | Oireachtas source

I will be brief, as this has been a long day. I wish to ask the witnesses about Project Eagle. It is an important question because of what has happened since regarding the reputation of NAMA and the potential damage to public trust in NAMA as this matter has continued. Mr. Daly has made clear that when the agency found out that Mr. Cushnahan was to have taken a fee, it stepped in quickly, I think Mr. Daly said within a day and a half, and it considered the exit of PIMCO and consulted Lazards. I take it from this that Mr. Daly felt that the integrity of NAMA's process was still intact and that it should continue. In hindsight, was that a bad decision and has that caused damage to NAMA, to NAMA's reputation and how the agency is perceived? Mr. Daly himself talked about Cicero's quote, "who benefits?", and about the people who tried to damage NAMA by leaking information such as failed bidders or underbidders. However, it is not only people who leak information to damage NAMA who are involved in this regard; it also is NAMA's decision-making process and this must be thought about. Should NAMA have considered this in greater depth at the time? Did NAMA discuss it sufficiently? Should it have stepped out of this process? Having given some thought to that question at this point, one journalist framed this issue by suggesting NAMA has lost the narrative and there may be some truth to that. However, it stems from the decision made to continue with the process after NAMA found out the individual in question was taking a fee. Consequently, it comes back to Mr. Daly and the decisions he has made or rather, not him personally but the decisions NAMA's board has made. Was that a mistake and in hindsight, was its correct to proceed with this or should NAMA have stopped the process when it had the chance? Have the witnesses considered this point in the interim?