Results 34,321-34,340 of 40,550 for speaker:Joan Burton

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: How much more would the Minister have to provide?

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: We know that the Minister has been doing that all year.

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: He has been doing that all year.

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: We never said that. That is a lie.

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: I object to the Minister not costing his own proposals and his reference to a proposal that the Labour Party did not put forward.

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: Tell him to cost his own proposal. How can he cost the Labour Party's if he cannot cost his own?

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: How can he cost the Labour Party's proposal when he cannot cost his own?

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: That was after President Obama's nationalisation of Fannie Mae and Freddie Mac-----

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: As I listened to the Minister, Deputy Brian Lenihan, I thought that the title of his paper ought to be "More Fairytales from Merrion Street" because the Minister is more "Minister ONAMA" than he is President Obama. He treated us to quotes from President Obama but I remind him that, if he bothered to read the quotes and their context, they were made after President Obama became President and...

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: They account for €28 billion and €8 billion of the €77 billion total. That is half of what the taxpayer will have to carry. Were any two bankers in the history of Irish banking and property development ever closer to the Government benches? If there were others, I do not know who they are. When Deputy Gilmore, the leader of the Labour Party, and I visited Merrion Street on the...

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: All I can say is that the Minister told us then what he is telling us today: "Trust us, we are Fianna Fáil. Everything will be all right." That was what was supposed to happen in regard to the bank guarantee.

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: We were told the fundamentals were sound by the Governor of the Central Bank and the head of the regulatory body, Mr. Neary. A whole series of other officials told us over and over again that the fundamentals of banking were sound. In the previous two years I questioned the then Minister for Finance, now Taoiseach, Deputy Brian Cowen, about his decision to allow the Quinn family and others...

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: The Minister has a nerve to come into this Chamber and to attempt to cost what he says are the purported proposals of the Labour Party when he has not provided us with costings in respect of his own proposals. On the proposals, I expected that the Minister would at the very least have come into this Chamber with a business plan. Any small or medium sized business person heading into a bank...

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: Where is the business plan? Where are the projected cashflows of NAMA over its seven to ten year life span? A person wishing to purchase a house is required to bring to the bank manager details of his or her income and any other family income. The bank manager then works out what he or she may or may not be able to borrow. The Minister has come into this House and provided us with a...

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: Will the Minister provide us with an analysis of the broad make-up of the 40% of loans which are good loans and the 60% of loans which are distress loans? Unless we get a consolidated list in regard to each broad group of loans and each developer we will not be able to evaluate the Minister's proposals. What the Minister is asking us to do is to trust Fianna Fáil. I do not trust Fianna...

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: I admire the Minister's English. I note the word "developers" has disappeared from the lexicon and that the "developers" have become "borrowers", which brings to mind the Victorian child's book called The Borrowers.

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: I am sure there will be people researching the borrowers to see what was said about them.

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: Yes, they were all small. The Taoiseach stated that the purpose of today's exercise is to crystalise losses for the bankers and developers and also stated that this process is our equivalent of a stimulus package. Crystalising the losses for the bankers and borrowers - the developers - is one matter but where is the stimulus package? The Minister made references at the end of his speech...

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: Judging by the small print, if I am reading the figures correctly, we may be back here again. The Minister has been careful not to provide us with too much of a breakdown. Will the Minister explain this in a manner which ordinary business people can understand? He stated that it is hoped we will obtain a 10% to 15% premium in terms of long term economic value. I received a letter the...

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Joan Burton: The bank does not give the unfortunate person who lost his or her job a 10% or 15% premium for long term economic value. Perhaps the Minister will explain this to the people of Ireland, in particular ordinary couples who may have lost their homes because, like a developer, they did not manage their financial affairs too well. We all understand how a developer might have been too optimistic...