Gerry Adams (Louth, Sinn Fein)

Yesterday I asked the Taoiseach about the conflicts of interest in NAMA and the financial system. I reminded him of Fine Gael's commitment to straighten this out and to get transparency and clarity, but ní bhfuair mé freagra soiléir ar bith ón Taoiseach inné. Therefore, I have another question for the Taoiseach. The Irish Bank Resolution Corporation, the bank formerly known as Anglo, has retained the services of the Blackstone Group to advise it on the sale of the €30 billion of loans it has across Ireland and Britain. The Blackstone Group is the largest distressed debt bidder in the world, but it was the unsuccessful bidder for the bank's US loan book last August. How come these vulture capitalists are advising on this loan sale but are not precluded from bidding for the debts? They are advising on the sale, but are bidding at the same time. Surely, this is a conflict of interest which runs totally contrary to the Taoiseach's election promises to straighten out these issues and make them transparent.

Was the Taoiseach aware of this agreement before it was reached? Does he believe it is acceptable that a company such as this can advise on a sale and bid in the same sale? What does he propose to do about this?

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