Oireachtas Joint and Select Committees
Wednesday, 22 April 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Joe Higgins (Dublin West, Socialist Party)
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No, no, but the whole situation. That's what I'm ... just the last theme, Mr. Daly and Mr. McDonagh, because time is ... now, both of you will say and you indicated that NAMA has been essentially a very socially progressive influence in relation to how it has operated and the outcome. Can I just put a quote to you, which is from the chief executive of Blackstone, which is a major fund that NAMA has sold a lot of property to? And this person says, a few years ago, "As we look at the current situation in Europe, we are basically waiting to see how beaten up people's psyches get, and where they're willing to sell assets ... You want to wait until there's really blood in the streets." Now, Mr. Daly, with that type of philosophy, you have sold substantial assets in this country to funds like this. Some would say vulture funds; I won't comment. How can it possibly be in the interests of the Irish people ... and just to say, Mr. David McWilliams, whom you're familiar with-----