Shane Cassells (Meath West, Fianna Fail) | Oireachtas source

I welcome Ms Nolan, Mr. Reid and Mr. Carville back to the committee. Our hearings are becoming a little like the film "Groundhog Day", with witnesses making return visits to the Committee of Public Accounts. Unfortunately, unlike Bill Murray in the film, our previous repeat visitors before today have not seen a change in the script, although PIMCO's letter this morning will at least make the sequel appearance by Mr. Daly and Mr. McDonagh interesting. The previous appearance by Ms Nolan and other senior officials with the Minister for Finance was very interesting, in that the strong stance taken by the Department, and the Minister, on that day was that there was no other option on the table, bar the course of action that was taken.

We had a very interesting discussion this morning with the Comptroller and Auditor General on the options not explored. What was also strongly put on the day was the fact that it was stated that the Minister and the Department played no role in the portfolio and it would have been inappropriate for anyone to do so. However, an aspect in the letter from Tom Rice, chief legal officer of PIMCO, which we discussed this morning, sets out the context for the approach to NAMA on the purchase of the property and that the Northern Ireland Government expressed a desire that it wanted a responsible purchaser and that PIMCO fitted that bill. It also goes on to state that the Minister, Sammy Wilson, advised the Minister, Deputy Noonan, of the fact that Brown Rudnick wanted the deal to proceed with one party on a limited exclusivity to ensure an expedient process and that the Minister, Deputy Noonan, responded that parties should make contact with NAMA directly and he advised that Brown Rudnick should enter dialogue with NAMA so that any interest in the loan portfolio could be fully assessed. Why would the Minister, who I am sure would have conversed with Ms Nolan and the other senior officials on this, consider it necessary or appropriate to advise the Minister, Sammy Wilson, how to proceed? If the Northern Ireland Government was expressing preferences for a particular-----