Results 9,321-9,340 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: It disputes that with Mr. Daly. Mr. Daly is now moving on and saying PIMCO had information of material interest and very great significance in respect of a person who was a member of the NAMA Northern Ireland advisory committee and it chose, for whatever reason, not to share the information with NAMA. This is a very serious allegation for Mr. Daly to make in respect of 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: Yes, well we need to ask it why. That is not to say I accept Mr. Daly's version of events. I am deeply sceptical and I will explain why. Riddle me this, Mr. Daly. Why would PIMCO not share the information it had on Mr. Cushnahan with NAMA? Why not?
- 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: What jeopardy would it have demonstrated for PIMCO? It was in trouble anyhow and it knew this. That is why it contacted NAMA, to say it had a problem. Its legal people absolutely acknowledged the magnitude of the problem. Particularly in the United States and Britain, people do not break anti-corruption standards and laws-----
- 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: -----and PIMCO knows this. Explain to me why it is that PIMCO would have an interest in keeping the information from NAMA.
- 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: Neither do I.
- 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: Hang on a minute, Mr. Daly is making a very serious charge against PIMCO. He is saying PIMCO knowingly and deliberately kept very serious information material to this case from him and from NAMA despite the fact it had made contact to make the disclosure of a conflict of interest and the problems associated with it.
- 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: Okay.
- 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: So tell me Mr. Daly, which part of that is not misleading you? You challenged me when I used the term misleading.
- 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 am not here to play word games with Mr. Daly. I am here to try to establish to the best of our abilities in the course of this examination what the hell happened and why, and who knew what and when.
- 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: Yes, and the other fact-----
- 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 suspect if PIMCO is by any chance following-----
- 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: -----the events at this committee, I suspect it will hear what Mr. Daly has said-----
- 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: -----more in line with how I hear it, because I hear Mr. Daly saying PIMCO was incomplete with important information, which it did not give to NAMA, and then it wrote to us and its presentation of the facts was inaccurate. I am simply saying these are very serious charges for Mr. Daly to make and it begs a response from 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: Yes, you have.
- 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: Well you have, in fact. I wish to ask Ms O'Reilly about the telephone call of 12 March. Am I right in saying this was the only call in which Ms O'Reilly was involved?
- 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: Yes, I thought as much. In the course of this call is the point at which PIMCO said it was out and it made that decision. It also said, not unreasonably, it would have expected disclosures to have been made. Mr. Tom Rice said that on the fees side PIMCO would have expected disclosures, given that £15 million to £16 million was the quantum of fees involved. Who did it think ought...
- 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: Okay, so PIMCO was not saying there it had an expectation that Brown Rudnick or Tughans-----
- 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: This conversation was all about Frank Cushnahan. Tell me Ms O'Reilly, PIMCO was obviously quite exercised by this and I understand that. This is the last thing someone needs when in the middle of a big complicated deal. I have no doubt dozens and dozens of people worked to the best of their capacity and in absolute good faith and then bang, they were in the middle of this. What did Ms...
- 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: She is the woman charged with keeping things on the straight and narrow, legally speaking. The buck stops with her, as they say. So, what did she ask of Mr. Rice?
- 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: You were not part of those conversations.