John McGuinness (Carlow-Kilkenny, Fianna Fail)
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There was not much else and IBRC was taking its own course of action. It seems that the Department had to fight with it all the way. It was comparing IBRC to NAMA and suggesting what should happen about salaries, but that did not happen. The Department then went on to raise issues about various sales. Its position was that a number of governance concerns had arisen from a particular incident and it was concerned about the fact that a matter about a member of the senior management team was not addressed or communicated to the board. There were concerns about the simple transaction of communication not taking place between management and the board. IBRC was ignoring everything to do with good governance, with no respect for taxpayers' money and the Department’s involvement in the process, and just proceeded at speed. All of this happened at a time when the Department had expressed concern about the manner in which certain transactions were being completed. In fact, in the note on other business conduct concerns, it was stated the Department was concerned about the number of transactions that had been poorly executed under the direction of the current CEO and that the performance of management in executing these transactions raised a question about the effectiveness of the CEO. Having made such a statement in the context of a private and confidential briefing document, I would have expected the Department to move decisively to correct the imbalance in the role being played by IBRC and the Department.