Dáil debates

Wednesday, 4 February 2015

Ceisteanna - Questions - Priority Questions

State Banking Sector

10:10 am

Photo of Paul MurphyPaul Murphy (Dublin South West, Socialist Party) | Oireachtas source

Why does the Minister think that Goldman Sachs has agreed to this on a pro bonobasis similar to four other groups on the panel he mentioned? Was it simply because they are nice, kind people and they want to help us out bearing in mind that an article in Rolling Stoneaccurately described them as "a great vampire squid wrapped around the face of humanity relentlessly jamming its blood funnel into anything that smells like money"? Could this perhaps smell like money? Is there not a clear conflict of interest given the fact that Goldman Sachs advises so many investors, which at a later stage may look to buy bank shares? Is the company doing this pro bonobecause it will gain access to confidential information, which it can later use for its own financial advantage? The conflict of interest is blatant given the company's history, including being found guilty of defrauding investors in the US and playing a role in the Greek debt crisis. Why would the Minister trust this company to do this without seeking its own return?

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