Results 10,361-10,380 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 (29 Sep 2016)
Mary Lou McDonald: What does the witness base that on?
- 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: Who keeps the minutes of the board meetings? Who takes them?
- 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 then they are cleared by the board.
- 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: Would it be fair to say that with Brown Rudnick and Tughans moving so speedily, so gracefully, from PIMCO to Cerberus, that Cerberus essentially inherited what Mr. McCarthy has referred to as the head start that PIMCO had enjoyed?
- 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: The witness cannot comment on that. Did Mr. McCarthy find any evidence of meetings between NAMA board members or executives and Cerberus?
- 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: He found no evidence of that.
- 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: At what stage were the PIMCO success fees agreed, in Mr. McCarthy's understanding?
- 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 asked that question for that reason. Mr. McCarthy probably cannot comment but I am now going to assume that, at that stage, the success fees were agreed. We will test that later. At no point is there a discussion or the record of a discussion around halting the sales process when all of this comes to light. Could Mr. McCarthy clarify that?
- 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 am just checking. I thank Mr. McCarthy for that. On the valuation of the assets, which did not happen prior to the disposal of the portfolio, who in NAMA would have had the responsibility to carry out or oversee the valuation of those assets? Which division?
- 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: In the absence of that, who watches that piece of the puzzle internally?
- 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. Here is what I am getting at because time is limited. For Mr. McCarthy, a glaring omission is the lack of property valuations. Clearly, one cannot audit something that does not exist, so it is a nonsense to try to advance that argument. What I am trying to get at is who within NAMA, on the board or within the executive, should have spotted that glaring omission. I want to know...
- 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: If Mr. McCarthy or I were in charge of asset management, we would anticipate seeing it in some of the records at some stage and would say: "Hang on a second. Perhaps we need to do that", even if it was then decided that it was not a necessary exercise. I just wanted to clarify that. Did the Comptroller and Auditor General find any evidence that NAMA had foreclosed on any of the debtors...
- 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. McCarthy did not examine any paperwork-----
- 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 he has no information in that regard.
- 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: One of the shortfalls that Mr. McCarthy identifies in terms of good practice, when all of this comes to light around fixer's fees and Mr. Cushnahan, was a failure to revert to the National Treasury Management Agency, NTMA, compliance division or service. It seems to me to be a fundamental omission. Who from the NTMA was on the board of NAMA at the time when all of this came to light? I am...
- 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: Was that-----
- 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: So the NTMA has full board membership. Can Mr. McCarthy say if the NTMA person was in attendance when these matters were discussed by the board?
- 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 right, 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: 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: For the purposes of the committee, which names should members be looking at?