Results 4,601-4,620 of 23,109 for speaker:Paddy Burke

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

Paddy Burke: These amendments relate to oversight, scrutiny and credit flows. Senators are concerned and quite rightly so. I am glad the Minister stated that the buck will stop with him but several other Ministers also said that on previous occasions. I take it that he was serious in what he said. There is a great deal of secrecy in the Bill. There will be many reports submitted to the Minister for...

Seanad: Business of Seanad. (10 Nov 2009)

Paddy Burke: I call on the Leader of the House.

Seanad: Business of Seanad. (10 Nov 2009)

Paddy Burke: Is that agreed? Agreed.

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

Paddy Burke: I remind Senators that we have spent more than two hours on this group of amendments.

Seanad: Order of Business (11 Nov 2009)

Paddy Burke: I agree with Senator Harris's remark that the level of personal debt is very serious. Why can we not put pressure on the banks to extend mortgage terms to 50 years or 60 years? In some countries, 40-year or 45-year mortgages are offered. I do not understand why we cannot offer them here. The Taoiseach stated the Government, when formulating the budget, will consider areas it would not...

Seanad: Order of Business (11 Nov 2009)

Paddy Burke: Not only are the fees being charged but the Government is paying Ernst & Young to analyse a banking institution that is defunct. The Leader should bring this to the attention of the Minister for Finance as a matter of urgency because the nation cannot afford such fees. The subject of fees arose in the past in respect of tribunals but yet again we are overpaying fat cats.

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

Paddy Burke: I welcome the Minister for Defence, Deputy O'Dea. We are dealing with Committee Stage (resumed) of the National Asset Management Agency Bill 2009. We are on section 208, amendment No. 61a in the names of Senators O'Toole and Ross. Senator O'Toole was in possession.

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

Paddy Burke: We are dealing with amendment No. 63.

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

Paddy Burke: Unfortunately, I have allowed the debate to open up on this simple amendment. I take it the main debate on the section is taking place also.

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

Paddy Burke: Amendment No. 64 has already been discussed.

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

Paddy Burke: Senators have spoken at least once on this amendment. Before I call the Minister let us get the amendments out of the way because the debate has moved onto the section.

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

Paddy Burke: This is a very important debate. Section 210 forms the core of the Bill. Very significant contributions have been made and there is a solution. The Government has not examined the Fine Gael good bank proposal, even though it should have done so, but it was cast aside because it was a proposal made from elsewhere. Section 210 is all about risk and risk takers. If a bank loans money, it...

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

Paddy Burke: Yes, it is the core of the Bill. If money does not start flowing to businesses, there will be no money to meet the €54 billion that the Bill is all about. If NAMA makes a loss, the Minister has said there will be a surcharge on the banks. We could alter the section to state the surcharge would be lower on those banks willing to lend to those who put a business plan in place and take risks.

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

Paddy Burke: The Senator should talk to his leader.

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

Paddy Burke: They have looked at it already.

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

Paddy Burke: I raise a point I referred to on the Order of Business this morning on accountants working in Ernst & Young, which is carrying out work in the Irish Nationwide Building Society. Its charges are €3,000 a day for a senior accountant and €800 a day for a junior. As we have gone down the route of paying this type of fee in the tribunals, it is an issue the Minister must immediately take on...

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

Paddy Burke: Senator Coghlan raised an important issue with the Minister. If this Bill is enacted before Senator Coghlan speaks to the Minister about the issue he raised, will he commit an offence? It would seem that any type of lobbying would be an offence under section 221.

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

Paddy Burke: It is the position afterwards to which I referred.

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

Paddy Burke: Tá a lán Gaeilge ag an Seanadóir.

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

Paddy Burke: Amendments Nos. 72 and 74 to 79, inclusive, are related and may be discussed together. Is that agreed? Agreed. Government amendment No. 72: In page 145, between line 36 and 37 to insert the following: 1 Section 40(3) Substitute "In this section and sections 42 and 42A," for "In this section and in section 42,".