Results 5,841-5,860 of 16,537 for speaker:Brian Lenihan Jnr
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: The common good of this country requires, first and foremost, a return to economic growth. Economic recovery is dependent on three key factors. The first is getting the public finances back in order. That work is well under way and will be debated in this House when I bring forward the budget in December. The second is restoring our competitiveness by reducing our cost base. The final...
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: Their work has been entirely in the national interest and history will prove their case. Let nobody underestimate the scale of the task before us. Our banking system during the boom years was driven at reckless speeds-----
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: -----and when it hit the wall last September, the damage was huge. Our banking system needed radical surgery. We never once shirked our responsibilities or shied away from taking bold actions when we judged that such actions were needed.
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: Earlier in the debate I heard Deputy Kenny indicate that he was willing to engage with the Government on his alternatives. In late August I wrote to Deputy Kenny and made it clear to him that my officials and I were prepared to engage on a confidential basis with any proposals he might like to make in that regard. That offer remains open. I am more than open to working with all the parties...
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: I again return to a speech earlier this year by President Obama about the banking crisis in the United States.
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: President Obama said, "... whether we like it or not, history has shown repeatedly that when nations do not take early and aggressive action to get credit flowing again, they have crises that last years and years instead of months and months - years of low growth, years of low job creation, years of low investment, all of which cost these nations far more than a course of bold, upfront action."
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: NAMA is our bold, upfront action. I commend the Bill to the House.
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: There is a mechanism for cash bonds at 1.5%.
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: Why did the Deputy not seek to have his proposals evaluated?
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: They paid at 90% for the loans.
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: For the existing banks, Deputy.
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: It did not instruct us. The Deputy should stop misrepresenting the facts.
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: My officials did not say that to Deputy Burton.
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: That is correct.
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: This is the Second Stage debate and the information the Deputy has requested will be provided before the end of the debate.
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: There is no premium for any borrower, as Deputy Burton seems to be suggesting.
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: Deputy Burton is wrong. Borrowers will get no premium and NAMA will pursue them for the money they owe. I ask the Deputy not to misrepresent this issue.
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: That is completely untrue.
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: We will include that provision in the Bill if the Deputy so wishes.
- National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)
Brian Lenihan Jnr: No interest holiday is planned. That type of misrepresentation is what poisons this debate.