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Seanad: National Asset Management Agency Bill 2009: Committee Stage (10 Nov 2009)

Joe O'Toole: We hope the Minister has not gone that soft and sensitive in this day and age. The Labour Party amendment seeks to delete that couple of lines, and I think the Minister should do so. I have heard the leader of Fine Gael talking about reducing the number of Oireachtas committees. The job of overseeing NAMA would be better done either by the Committee of Public Accounts, the Committee on...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (10 Nov 2009)

Joe O'Toole: There was a news report during the summer that the Minister had proposed to the Cabinet that it be Deputy Richard Bruton or Deputy Pat Rabbitte.

Seanad: Order of Business (11 Nov 2009)

Joe O'Toole: A significant fundamental issue has been raised by Senator Fitzgerald. It is interesting to listen to her. Whereas I pointed out all day yesterday that there are things that cannot be done, Senator Fitzgerald is bemoaning the free market, and I welcome her to the club. To get what she is trying to achieve, she must move from Christian democracy, to social democracy and maybe all the way...

Seanad: Order of Business (11 Nov 2009)

Joe O'Toole: There was a time not that long ago when we had these things in Ireland, but this goes back to the point made by Senator Harris yesterday. These are the issues. In all seriousness, the issue raised by Senator Fitzgerald is crucial. It has to do with the philosophical structure for political vision of the country. There was a time not that long ago when there were mutual societies, commonly...

Seanad: Order of Business (11 Nov 2009)

Joe O'Toole: -----when a well known leader of a building society was in the bar every Wednesday night trying to get us to remove the section in the building societies Bill to allow it to be easier to become public limited companies. Once they become public limited companies they are into the trap outlined by Senator Fitzgerald. We need mutual societies. We tried to stop the change here; we could not get...

Seanad: Order of Business (11 Nov 2009)

Joe O'Toole: Hear, hear.

Seanad: Order of Business (11 Nov 2009)

Joe O'Toole: Hear, hear.

Seanad: Order of Business (11 Nov 2009)

Joe O'Toole: There is always the GAA.

Seanad: Order of Business (11 Nov 2009)

Joe O'Toole: Under certain conditions.

Seanad: Order of Business (11 Nov 2009)

Joe O'Toole: No, it was not suggested.

Seanad: Order of Business (11 Nov 2009)

Joe O'Toole: I never said that. Absolutely not.

Seanad: Order of Business (11 Nov 2009)

Joe O'Toole: On a point of order, there is an issue here with which we have dealt before. It is a matter for the Committee on Procedures and Privileges. As the Cathaoirleach said, it is true that a person was not named.

Seanad: Order of Business (11 Nov 2009)

Joe O'Toole: It is also true that the Cathaoirleach's view and mine is that a person is clearly identifiable. The Cathaoirleach has used that phrase himself. It is also true that the Cathaoirleach cannot force Members to do anything because we have the right to free speech here. An issue has been raised and what needs to happen is that the Cathaoirleach needs to look at the report - he can do no more -...

Seanad: Order of Business (11 Nov 2009)

Joe O'Toole: There is a process here.

Seanad: Order of Business (11 Nov 2009)

Joe O'Toole: I am just saying, in fairness to the Cathaoirleach-----

Seanad: Order of Business (11 Nov 2009)

Joe O'Toole: Things have been said here.

Seanad: Order of Business (11 Nov 2009)

Joe O'Toole: They will be in green and gold.

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Joe O'Toole: We are dealing with section 208(11). We had a lawyer speak in the House this morning who put words in my mouth as well as Fianna Fáil could ever do it. NAMA is a market-driven plan. The idea that someone might interpret it as a social democratic plan or form the view that something I said in support of NAMA was the same as my saying this is a social democracy-based plan, is anything but...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Joe O'Toole: I ask Senator Alex White to note that fact.

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Joe O'Toole: If I suggested anywhere that it is social democratic, I will buy him dinner in the most expensive restaurant in Dublin and we will argue it further. The Minister has a legal background so I invite him and Members of the House to listen with an open mind to what is in the provision: "The Minister shall not approve a restructuring plan or business plan that does not comply with the law of the...

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