Oireachtas Joint and Select Committees

Wednesday, 16 December 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Operations and Functioning of NAMA: Discussion

2:30 pm

Photo of Regina DohertyRegina Doherty (Meath East, Fine Gael) | Oireachtas source

I have a series of questions, which are probably for Ms Birmingham. A number of times during their speeches, Mr. Daly and Mr. McDonagh spoke about acting on a commercial basis, which has prohibited them from doing things that other people would have expected them to do, be they debtors, politicians or people in Ratoath. The terms "social dividend" and "social return" were bandied around an awful lot when NAMA was established. From where did they come, given that section 10 probably precluded any of NAMA's activities from ever giving a social dividend, given the climate we had in 2009? I was not here at the time. Did it come from the likes of me hoping that out of a mirage of something bad we could attain something good?

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