Gerry Adams (Louth, Sinn Fein) | Oireachtas source

The Minister was told, therefore, and the sale proceeded, despite all these players still being involved. One of the conditions of the sale process of the northern portfolio, following the withdrawal of Pimco, was that no former director should receive payment as a result of NAMA transactions. However, we know the law firm involved in the Cerberus deal had €7 million lodged in an offshore account. That is an awful lot of public money.

The Minister, Deputy Bruton, says he does not accept that there should be a commission of investigation into this. The Minister for Finance has been silent on these matters. I have asked him and I have written to him to make a statement and he has said nothing. I have seen time after time since I have come here that this Government messes about, prevaricates, puts things on the long finger, kicks them up the road and does not move smartly and sharply. Why would it not establish a commission of investigation? Why would it not let the issue be dealt with by those who have the authority, the ability, the resources and the capacity to deal with them?

My other point is that the Government is proposing to parcel up all of NAMA's remaining portfolios, to be disposed of in one sale. I understand that Cerberus is a leading bidder in that. In the same week this scandal emerged, the Government introduced legislation to cut payments to lone parents. It brought in legislation to pickpocket citizens' income to pay its water charges and it increased the six figure pensions of former taoisigh and Ministers. Surely that type of zeal in dealing with ordinary people needs to be matched with a commitment to dealing with issues of corruption and graft that are causing so much anger. I ask him again to reflect on his answer and to establish a commission of investigation into the management and the operation of NAMA.

See this speech in context