Dáil debates

Thursday, 30 April 2009

10:30 am

Photo of Joan BurtonJoan Burton (Dublin West, Labour)

On the issue of the proposed NAMA, I have asked the Minister before whether he can facilitate a detailed debate in this House about what is being proposed. We are now told that there is to be a shadow NAMA authority and board appointed. There will be no opportunity for scrutiny of this board. The Minister also promised legislation in regard to a Labour Party proposal of a commission to supervise and have oversight of the whole banking and regulatory system in this time of terrible national economic crisis. It is extraordinarily difficult for people in Opposition who have legitimate concerns for the country to get any information or briefing from any of the four principal agencies, the Department of Finance, the Financial Regulator, the Central Bank and the NTMA, so that we are left to follow events through leaks to the newspaper.

I understand, for instance, that the debts are to stay in the banks, in a bad debts division-----

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