Results 24,741-24,760 of 26,162 for speaker:Kieran O'Donnell
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: The Minister did not.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: We are discussing the amendment. If the Minister reads the amendment,-----
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: -----he will see that the purpose of the Act is restoring credit, orderly property management strategy,-----
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: -----to recover the maximum funds, to take all necessary steps to prevent a recurrence of the conditions that brought about the financial crisis. The Minister can be glib and state we should not discuss them, but these are key amendments. Some of them are new amendments. The windfall tax is a new amendment, a new section.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: The surcharge is a new amendment, creating a new section. It was not tabled on Committee Stage and we will never get the opportunity to discuss it.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: It is critical that we get time to debate the issue of the credit flow. The Minister has tabled amendment No. 78 and the worry is we may not get the opportunity to discuss it. It is critical in terms of the orderly management of property. That is why there would be a need for proper verification of the NAMA business plan. In this regard and on the question of the subordinated debt and the...
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: I thank the Minister for facilitating this discussion on a key element of the NAMA project, which may help to get credit to flow to small businesses. Fine Gael has tabled amendments Nos. 29, 32 and 78. The Minister's amendment No. 127, which is very general in import, states: (1) The Minister may issue guidelines--- (a) regarding lending practices and procedures to facilitate the...
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: If only it was â¬28 million.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: What about the Irish assets?
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: Why was Anglo Irish Bank nationalised then?
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: I have no criticism of Mazars.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: It was curtailed by the information available from the banks.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: On the target report, unless the banks give a breakdown between new and existing business, the report will fail again. Effectively, apart from the fact that it did not give any proper indication of refusals, it gave no breakdown between new and existing business, no breakdown of overdraft facilities withdrawn and no breakdown of new overdraft facilities given.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: I would like to make one or two critical points and get some clarification. Is the Minister using amendment No. 127 as a means of threatening the banks? Rather than issuing guidelines, is he threatening to issue guidelines? Is the Minister committed to issuing guidelines, or is he merely threatening the banks that he may issue guidelines? It is a subtle point, but it is a very important...
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: It is likely that â¬47 billion will be paid by way of market value and the rest will be put into the banks. If we owned 51% or more of the banks, we would control their loan books and lending policies without interfering too much with their commercial activities. I am talking about the nationalisation of the banks and the use of taxpayers' money. The Minister's current NAMA mechanism will...
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: I remind the Minister-----
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: The Minister is hedging his bets.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: When will we see them?
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: Nobody disagrees with that.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Kieran O'Donnell: The Minister expects to produce a code in the next six weeks.