Results 5,021-5,040 of 16,537 for speaker:Brian Lenihan Jnr
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: That would definitely make a loss, as I pointed out to the Deputy previously.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: We have already rehearsed this debate. Deputy O'Donnell cannot be a one-trick pony now. We must discuss the amendments.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: I agree with Deputy Flanagan and Deputy Rabbitte. We are in your hands, a Leas-Cheann Comhairle, but it struck me that the amendments grouped with amendment No. 29 could be taken at this stage because they deal with the power to issue credit guidelines. I do not want to cut Deputy O'Donnell short. He may wish to go through the material relating to the objectives. I do not know if it is...
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: We should merge the two groups. I suggest we take amendments Nos. 29, 32, 78 and 127 together, as they deal with credit supply powers.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: Amendment No. 9 proposes a new set of objectives in the Bill. Subsection (viii) is already covered as the purposes are fulfilled in the amendment I have brought forward to set out guidelines relating to lending. The "orderly property management strategy" under subsection (ix) is not the purpose of the Bill. It is something that NAMA may adopt to achieve its functions. Section 11(2)...
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: I propose that we take amendment Nos. 10, 29, 32, 78 to 80, inclusive, and 127 together.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: In terms of the book debts.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: Agreed.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: The Marist Brothers taught me maths.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: The child was with the Marist Brothers.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: That is the intention, although it would do no harm to clarify it.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: I am sure there are many people around the Houses whose homes are in negative equity.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: The time has come for me speak to my amendment and then I will respond to the various comments made in what was a very useful debate. I indicated during the Committee Stage debate last week that I would amend the Bill to provide the Minister with a power to issue guidelines to the participating institutions on lending practices and procedures to improve the flow of credit to small and...
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: Good.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: Exactly. That is why we must dig deeper and there is another report due at the end of the month covering the quarterly period to the end of September. That type of exercise is important. One of the big difficulties in accessing the information in the course of an exercise like Mazars - I went through the report in great detail and was briefed on it - is that it does not track informal...
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: That is one of the difficulties with that type of analysis.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: That is a crucial question, but I am in possession and I want to complete the point. However, I agree with Deputy O'Donnell on that. Deputy Burton then made an interesting speech which touched on the economy generally. Of course she is correct to state psychology is crucial here, but to generate the consumer confidence to spend she seeks is not simply a matter of Government intervention or...
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: Yes. In other words, bank customers can smell the breeze as well. Indeed, several weeks before the guarantee was agreed upon by the Government, the chief executives of the two main banks advised me that there was clear evidence of a decline in consumer spending and of excess saving by customers. That pattern had emerged that summer and we saw it in our indirect tax receipts. Deputy Burton...
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: Not to mention which?
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: Deputy Burton did not hear me earlier. I made the point it was the Marist Brothers who taught me to add well. I had a good master in arithmetic at primary school.