Results 3,541-3,560 of 21,440 for speaker:Mary Lou McDonald
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: When the public interest directors met him in May last, did the issues of dealing with the write-down of loans and personal insolvency feature in the conversation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: I will take that as a “Yes”.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Including the issues of write-downs and personal insolvency.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: What is Mr. MacSharry saying then?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Presumably, it also included the issue of mortgage arrears.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Do the directors know the extent of contact between their institution and the Minister over several months and conversations in respect of the personal insolvency legislation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Does Mr. MacSharry know if there was any lobbying on the content of the legislation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Outside of that collaborative approach, are the directors aware of other direct contacts between the institution and the Minister on this issue?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Mr. MacSharry is on the bank's remuneration committee. Is it in the public interest to pay somebody €500,000?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: The chief executive officer is paid this sum and it includes his pension entitlement.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Therefore, the committee has no role in deciding the remuneration for somebody in that position?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Did the committee just rubber-stamp it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: The remuneration committee was not the deciding body. It simply rubber-stamped the decision.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Through the lens of the public interest, did Mr. MacSharry have concerns when he saw a package of that size? Did it ring a public interest alarm bell in his head?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: In Mr. MacSharry's previous incarnation through his involvement with the Bank of Ireland between 1993 and 2005 he probably took the same view of the remuneration packages enjoyed by senior figures.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Mr. MacSharry probably would have sat before a committee such as this and told it that if one wanted the best, one had to pay the bucks. We know where that led us.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: More is the pity.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Were their salaries at the time merited?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: In Mr. MacSharry's mind, therefore, it was merited.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Up to 12% of Permanent TSB employees earn in excess of €100,000. I assume Mr. MacSharry believes this is the rate that has to be paid. Does he see how extraordinary this is for anyone looking in at a bailed out institution which is not enthusiastic about dealing with the issue of write-downs to give relief to the general public? In my mind, the institution does this in a delusional...