Results 22,321-22,340 of 35,959 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)
Pearse Doherty: Is Mr. Daly concerned that such a meeting took place?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)
Pearse Doherty: When did Mr. Daly first become aware that more than Stg£7 million had been located in an offshore account as part of this transaction?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)
Pearse Doherty: Does Mr. Daly agree with the statement that NAMA was simply in the dark and that because people were raising legitimate concerns, the agency became enlightened about this transaction in respect of potential conflicts of interest, fixer's fees and meetings of members of the agency's advisory committee with the fund that was partaking of the largest transaction it had undertaken?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)
Pearse Doherty: Does Mr. Daly regret the fact that NAMA took the approach of, "Nothing to see here; move along and stop using parliamentary privilege to make these accusations," given that it has now started to investigate, through the letter to Mr. Cushnahan last month, his failure to disclose his interests and his meeting with PIMCO in May 2013?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)
Pearse Doherty: Does Mr. Daly consider Mr. Cushnahan represents NAMA or does he absent him from the agency when he talks about NAMA? Does he accept that Mr. Cushnahan was a member of the agency at the point the transaction was taking place? He allegedly had been involved in meetings with Mr. Peter Robinson, Mr. Coulter and PIMCO at that time.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)
Pearse Doherty: It is a matter of fact that Mr. Cushnahan was a member of the Northern Ireland committee until November 2013. It is also a matter of fact that decisions on the sale of the portfolio were taken by NAMA in 2014 independent of the Northern Ireland advisory committee, then or previously, and independent of anybody else, other than the NAMA board and the commercial rationale for the sale.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)
Pearse Doherty: That is not the question. I expect to receive an answer to a direct question. Does Mr. Daly accept that Mr. Cushnahan, as a part of NAMA, was included in NAMA when the transaction was going through? When he says NAMA did nothing inappropriate-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)
Pearse Doherty: But during the process-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)
Pearse Doherty: Therefore, he was meeting PIMCO for the good of his health.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Pearse Doherty: I am not agreeable to that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Pearse Doherty: Go raibh maith agat. Will the witness explain the risk-based rationale that the credit union sector has the support of the imposition of the savings cap at €100,000?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Pearse Doherty: What is that risk-based rationale? I am well aware from previous statements and the knowledge we have of what is the average deposit in savings in credit unions but what is the risk-based rationale that the witness carried out within the bank that led to the belief that a cap of €100,000 was appropriate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Pearse Doherty: The same risk would apply to any financial institution out there, whether the AIB or Bank of Ireland, if there were depositors, savers, in those banks who were to lose funds as a result of resolution or liquidation. We have seen a number of situations in the past but there is no imposition by the Central Bank to say that nobody can save above €100,000 in those institutions. What is...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Pearse Doherty: Who came up with the idea?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Pearse Doherty: When the witness says "we" I am looking for a specific-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Pearse Doherty: Yes. The Registrar of Credit Unions is not autonomous. It reports to banking supervision and falls under the remit of banking supervision. Was it the witness who came up with this idea, was it a higher level which deals with banking supervision in terms of not just credit unions but all the other banks or was it at a higher level, in terms of Mr. Cyril Roux, or the Governor of the Central...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Pearse Doherty: Just generally, from where did the proposal of the €100,000 cap emerge?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Pearse Doherty: It is not. Sorry, just to correct the witness.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Pearse Doherty: The statutory mandate of the Registrar of Credit Unions is not to protect members' funds, its statutory mandate is to ensure that the credit unions protect members' funds. There is a very clear distinction because one is going over the head of the credit unions and the other is working with them to make sure that the appropriate regulation is in place to ensure there is no risk to members'...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Pearse Doherty: So the proposal originated from the registry-----