Oireachtas Joint and Select Committees

Tuesday, 22 November 2016

Public Accounts Committee

Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed)

10:00 am

Photo of Alan KellyAlan Kelly (Tipperary, Labour) | Oireachtas source

Mr. Long's comments on behalf of Lazard, to the effect that the ends justify the means, are astonishing. We are all beginning to know a lot more about Lazard as a global estate agent. In replies to Deputy Mary Lou McDonald and others Mr. Long said credibility, honesty, etc. were the benchmarks and DNA on which Lazard traded. I do not want to misquote him and will check the minutes of the meeting, but he seemed to say one measured success by a successful outcome. I find that to be one of the most extraordinary comments I have heard since we started this process. That is because it is not the case. The process has to be correct and have integrity. That is what we are checking. We are checking to see whether the taxpayer lost money because of the report and whether the process was correct. Did it, at all times, adhere to the rules of engagement? To say one measures success by the outcome is absolutely extraordinary.

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