Results 9,301-9,320 of 21,440 for speaker:Mary Lou McDonald

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: That is what the £15 million was for.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: Brown Rudnick hawked it around to half the world.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: Can I just return to get absolute clarity? I am not trying to be a pain in the neck here. The witness is saying two separate things. He is saying they had no knowledge until 10 March.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: Let me accept that - 10 March is the day that all is revealed. Where I have a difference with the witness, and where the minutes differ with him, is that he says on 10 March he discovered this guy, Mr. Cushnahan, is being lined up for a big payment. That is true, and we agree on that. However, I put it to the witness that the minutes reflect that he was told something else as well....

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: That is what the minutes say.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: That is what the telephone calls indicate.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: Perhaps, Chairman, we need to hear from the other committee members who were at that meeting. I would like to have the opportunity to put the April 2013 matter to them.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: Of course that is preferable.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: There is no disagreement on that.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: On the contrary, in the case of Frank Cushnahan and Tughans, the direction of traffic was rather in the opposite direction.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: It references several points.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: I think we have to arrive at the conclusion that Mr. Daly, Mr. McDonagh and all present today from NAMA are resolutely sticking to the position that they knew nothing of any involvement of Frank Cushnahan with PIMCO and this transaction prior to March 2014. They are saying that despite the fact that there is a reference in the contemporaneous notes of the telephone call and the board...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: Excuse me. That is a very serious assertion to make in respect of PIMCO. We need a response from PIMCO on that matter. Similarly, we had to get a response from PIMCO on the question of whether PIMCO went or was pushed in respect of its exit. There was a time when Mr. Daly was absolutely resolute, to the point of almost being obnoxious, in his assertion that NAMA kicked PIMCO out. PIMCO...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: No, that is a statement of clarification. I am conscious that we have gone around in circles on that issue.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: Why is Mr. Daly taking issue with my use of the word "mislead"? I want to understand what Mr. Daly is saying about PIMCO.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: Then, what does not sharing information of that nature with NAMA amount to? What words would Mr. Daly use?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: I know what is in the letter.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: That is correct. PIMCO did not give NAMA that information. If that was not misleading NAMA, what is the correct word to use?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: It was a sin of omission. Let us be clear about it. We had to go through this whole thing with some of NAMA's board members also, when they made the accusation against PIMCO that it sought the acquiescence of NAMA to stay in the process. From my reading of the documentation of the minutes and notes of phone calls, it is clear to me PIMCO placed a premium on staying within the rules and...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: Very good. That is fantastic.