Results 10,161-10,180 of 21,149 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 (29 Sep 2016)

Mary Lou McDonald: Mr. Daly has said that repeatedly but that is not the question I am putting to him. Anybody looking at this turn of events would say:You run into this problem with Brown Rudnick, Tughans, PIMCO and Cushnahan. Cushnahan is off the pitch. Another bidder is in and, lo and behold, it is Brown Rudnick and Tughans. Let us not forget that further down the process a controversy and an allegation...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: Yes, but I want to come to this point.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: I want to raise two issues. First, Mr. Daly is making a kind of arm's-length argument. As the Chairman pointed out, when it suits Mr. Daly, it is the purchaser and the seller, which are two sides of the one coin. When that argument does not suit Mr. Daly, however, he tries to say, "Well, that had nothing to do with us." Everything that happened in the course of this transaction had...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: May I respectfully suggest that Mr. Daly did not manage them terribly well because the guy ended up with a fixer's fee and the whole thing went bust on him.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: That is Mr. Daly's account of matters. It would be misleading if I told him that I find that convincing because I just do not. However, in the course of this our examinations, we will get to the bottom of it. I want to raise another matter. A couple of times Mr. Daly has, I think very disingenuously, suggested that the investigation carried out by the Comptroller and Auditor General was...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: It analyses the process on its own terms, and Mr. Daly's records, actions or inaction as they happened.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: No.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: No, sorry, the actual conclusion is that, taking NAMA's process on its own terms, with all the flexibilities or irregularities contained within it-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: Mr. Daly can use whichever term he wishes. The question is, had NAMA played by its own rule book, what might or what would the probable outcome have been? This is very different from what he is suggesting.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: And NAMA's practices and policies, yes.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: No, it is not a description. It is an interrogation-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: -----of the process. It is a testing of the process.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: Yes.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: No. He interrogates the process, then arrives at a conclusion, based on NAMA's own standards, practices and standards, which NAMA itself had set, and then benchmarks the outcome NAMA achieved. It is not against some never-never land scenario but against NAMA's own policies, standards and benchmarks.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: That claim is not in the report either.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: I will finish up now. Earlier, Mr. Daly was quite happy to benchmark some of his own remarks against those other portfolios when he was citing discount rates.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: Mr. Daly was quite happy to benchmark and to use those other portfolios, Tara and Arrow, when he was citing the discount rate earlier.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: For me, Mr. Daly-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: Yes, retrospectively offered. However, I will say to Mr. Daly, for the purposes of peace, harmony and conclusive findings or observations at the tail end of this process, that for me, the distinction between the Comptroller and Auditor General's observations and account and Mr. Daly's is that everything in this document, this report, is documented - every single assertion. Whether he agrees...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Mary Lou McDonald: That was the implication.