Results 181-200 of 562 for speaker:Larry Butler

Seanad: National Asset Management Agency Bill 2009: Report and Final Stages (11 Nov 2009)

Larry Butler: A point was made earlier today that the banks did not intend to honour an €11 million cheque paid out by a certain company for a contract because of the NAMA commitment. If NAMA is not a working body at present, how can the banks make that statement? The lending institutions must be careful about what they are doing at this time. It is not right to use legislation that has not yet left...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Larry Butler: I agree with the views of Senator Harris, and other speakers, on this section. On Monday night the Minister stated clearly that we could not put the mortgage section - people who have mortgages - into NAMA because it was structured to ensure that taxpayers' money is protected as much as possible in this legislation. We will go after developers, builders and whoever else owes money to the...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Larry Butler: When we complete this Bill it is important that we draft new legislation to deal with what will be a tsunami if we do not take action.

Seanad: National Asset Management Agency Bill 2009: Committee Stage (10 Nov 2009)

Larry Butler: On Second Stage, my contribution focused on the business plan for NAMA. There are three aspects involved, namely, the special purpose vehicle, SPV, NAMA and the banking sector, which is going to be recapitalised. Will the members of the board be appointed on the basis that they possess the requisite business ability in this area? Will the SPV or the board of NAMA have overall...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (10 Nov 2009)

Larry Butler: I want to focus on the business plan because Senator Twomey referred to it during his contribution. It is important that we should deal with the plan in some detail, either now or at a later stage.

Seanad: Order of Business (10 Nov 2009)

Larry Butler: I support Senator Ó Murchú's call for an all-party day or half-day debate on the mortgage situation. Yesterday we had a very fine debate on NAMA. My contribution urged that NAMA was the wrong vehicle for looking after those who are in trouble in relation to their mortgages because this agency's role is aimed at getting the best value possible for the taxpayer. It is a different type of...

Seanad: National Asset Management Agency Bill 2009: Second Stage (9 Nov 2009)

Larry Butler: I congratulate some of the speakers on the good quality of debate that has centred around the NAMA issue. I can only speak from my experiences of the past 35 years in running and being involved in businesses and the one lesson I learned in that period is that one cannot run a business without a credit system, and the banks are the only credit we have in this country. We have now produced...

Seanad: National Asset Management Agency Bill 2009: Second Stage (9 Nov 2009)

Larry Butler: -----that would work. I say that looking at it from a business point of view. We are a capitalist country, whether we like it or not. We are not a socialist country. We would like to think we are but we are not, and the people who control the capital-----

Seanad: National Asset Management Agency Bill 2009: Second Stage (9 Nov 2009)

Larry Butler: We saw the trouble that got us into.

Seanad: National Asset Management Agency Bill 2009: Second Stage (9 Nov 2009)

Larry Butler: I said in my earlier contribution that we cannot go down that road again. I congratulate Senator Twomey on his earlier contribution which was very constructive. That is what I would like to hear in this debate. How can we make this legislation better? That is what this House is about. It is about ensuring that when legislation comes to this House we have an opportunity to highlight our...

Seanad: National Asset Management Agency Bill 2009: Second Stage (9 Nov 2009)

Larry Butler: It went quickly.

Seanad: National Asset Management Agency Bill 2009: Second Stage (9 Nov 2009)

Larry Butler: It is important that there be a proper debate and we ensure the legislation is strengthened where it needs to be. I ask the Minister to ensure the vehicle we have in place for the private sector does not take in the entire European context in terms of employment. That is a vital matter and I want to ensure it is copperfastened within the legislation.

Seanad: Mortgage and Debt Support Measures: Motion (4 Nov 2009)

Larry Butler: I congratulate Fine Gael on tabling this worthy motion. It is an important debate. The Government amendment to the motion is equally responsive. When there is as much agreement as this among the main parties, it is important to ensure we carry this goodwill forward to the budget which is a very important part of what we are trying to do. The motion suggests using NAMA as a vehicle for this...

Seanad: Mortgage and Debt Support Measures: Motion (4 Nov 2009)

Larry Butler: Therefore, the statement condemning the Government is a bit rich. We are in a serious budgetary position. The Government has not run out of compassion; it has just run out of money. That is how serious the position is.

Seanad: Mortgage and Debt Support Measures: Motion (4 Nov 2009)

Larry Butler: An alternative Government would have the same situation to face and actions to take. I am glad to see the House is in agreement on many issues this week on how the budgetary position should be tackled. I do not wish to be petty but in reply to Senator Alex White, the Government has improved the living standards of everyone, including the low paid, by way of the carer's allowance, increases...

Seanad: Order of Business (3 Nov 2009)

Larry Butler: I ask the Leader to invite the Minister for Communications, Energy and Natural Resources, Deputy Eamon Ryan, to come to the House to discuss the development of the new insulation programme in view of the fact that we are going to introduce a carbon tax. I would like to see the Minister developing the scheme much further. There are 6,000 people working in the industry. The Minister was...

Seanad: Order of Business (3 Nov 2009)

Larry Butler: It is generally accepted for the last two weeks that because of certain policies in the European Union and certain utterances bank shares have gone down in price.

Seanad: Order of Business (3 Nov 2009)

Larry Butler: The Minister made it clear that he did not see any reason for holding up NAMA, provided we do our business properly here. I agree with previous speakers that we should tease out the legislation. This is the House in which to do it, as this is where we have the value. I agree with Senator Norris. It is important that it should come before the House. On social partnership, the one day...

Seanad: National Asset Management Agency Business Plan: Statements (29 Oct 2009)

Larry Butler: I welcome the Minister of State. He and the Minister for Finance probably know more about NAMA than anyone in the country who has been dealing with this over the last 12 months. There has been a great deal of misinformation from people who did not understand the workings of NAMA, and how it would operate. There are still quite a number of people who do not understand NAMA and it is the job...

Seanad: National Asset Management Agency Business Plan: Statements (29 Oct 2009)

Larry Butler: I was speaking before the sos about the availability of credit. There is a general perception that the banking system is not lending currently and that the reason for this is insufficient capital. As a result of recapitalisation via NAMA, banks will be able to resume prudent lending, but - and it is important to emphasise this - they will not be in a position to offer the same degree of...