Results 17,701-17,720 of 21,260 for speaker:Mary Lou McDonald
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: I thank Mr. MacSharry and Ms Hayes for attending. To take up Deputy Michael Creed's point about the lack of a definition of what constitutes the public interest, I was struck by the fact that some of Mr. MacSharry's responses were almost in the style of de Valera looking into his heart and conscience to establish for himself-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: It is problematic that directors do not have a more pinned down directive sense of what is the public interest. Mr. MacSharry has articulated his obligations under company law. It is only fair to say that given what happened in the financial institutions and the consequences for the public, the public has a view to have its interests protected against those of the banks. Mr. MacSharry...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Do I take it that Mr. MacSharry is asserting the shareholder should change it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: I did not hear any member say that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: In respect of the shareholder, in a response to Deputy Shane Ross on 14 November, the Minister for Finance set out how he had last met the public interest directors on 17 May 2011. With whom did he meet from the institution?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: When the public interest directors met him in May last, did the issues of dealing with the write-down of loans and personal insolvency feature in the conversation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: I will take that as a “Yes”.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Including the issues of write-downs and personal insolvency.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: What is Mr. MacSharry saying then?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Presumably, it also included the issue of mortgage arrears.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Do the directors know the extent of contact between their institution and the Minister over several months and conversations in respect of the personal insolvency legislation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Does Mr. MacSharry know if there was any lobbying on the content of the legislation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Outside of that collaborative approach, are the directors aware of other direct contacts between the institution and the Minister on this issue?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Mr. MacSharry is on the bank's remuneration committee. Is it in the public interest to pay somebody €500,000?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: The chief executive officer is paid this sum and it includes his pension entitlement.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Therefore, the committee has no role in deciding the remuneration for somebody in that position?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Did the committee just rubber-stamp it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: The remuneration committee was not the deciding body. It simply rubber-stamped the decision.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: Through the lens of the public interest, did Mr. MacSharry have concerns when he saw a package of that size? Did it ring a public interest alarm bell in his head?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Mary Lou McDonald: In Mr. MacSharry's previous incarnation through his involvement with the Bank of Ireland between 1993 and 2005 he probably took the same view of the remuneration packages enjoyed by senior figures.