Liam Twomey (Fine Gael)

There is a need for some Oireachtas oversight of NAMA's work. It has been described as a socialist solution to a capitalist problem, which has now the added Stalinist desire for secrecy. When those moving properties to it are having a jolly good time, there is a sense in Government circles that discussion about NAMA raises the ire of taxpayers. For the job to be completed properly, with the massive transfer of junk bonds to the taxpayer, there is a need for clarity and the public to believe they are engaged in the process. The only way that will happen is if there is an Oireachtas committee overseeing the work of NAMA. Individuals, no matter how competent they are, are insufficient because if the public sense secrecy or that the Government is covering up something in respect of NAMA, they will have no confidence in it. To say the least, they are pissed off about NAMA. It would help, therefore, if there was a mechanism in place to provide for proper Oireachtas oversight. One of the recommendations should be accepted by the Minister.