Urgent need for debate on NAMA and the Banks

Yesterday in the Seanad I asked why we are being given the runaround with regard to a debate on the banks and NAMA. The only logical explanation is that the Government is at sea on the banks and totally confused with results such as those posted by AIB yesterday.

The implications for the Government of the corrections to the NAMA scheme in the final approval being given by the Commission may not yet have been fully assessed.

At the same time, I do not consider it acceptable because last year the Leader promised that we would be regularly updated on NAMA. For two weeks in succession, he has promised the House a debate on the banks and NAMA.

We are a year and a half into the banking crisis, credit is still not flowing, no one is responsible for what has happened and no one has been held responsible. It can be seen in the AIB results that between bond buybacks, the selling of assets, the transferring of toxic loans to NAMA, the rights issue and the divesting of assets, that it will be another 18 months before all of this is done and dusted and credit flows.

It would be very useful to have a debate on the banks as well as some clarity on the part of the Government as to where we go from here.

Regan urges Cowen to answer question and not get personal- Irish Times

Regan urges Cowen to answer question and not get personal

JIMMY WALSH  Irish Times

Thu, Feb 25, 2010

SEANAD REPORT: FINE GAEL justice spokesman Eugene Regan said that having raised a legitimate question on Tuesday about the Taoiseach’s relationship with Seán FitzPatrick of Anglo Irish Bank there was no need for Mr Cowen “to get thick with me” over the matter.

Mr Regan said it would be much better if the Taoiseach addressed the question raised rather than attacking him personally. “The Taoiseach raised the borrowing limit that allowed the fiasco of the Dublin Docklands Development Authority and its purchase of the Irish Glass Bottle site.

“The second issue is the private dinners that were held at a very critical time when he was taoiseach-in-waiting and the veto [by the Taoiseach on Anglo Irish Bank being excluded from the bank guarantee scheme].”

Mr Regan asked Terry Leyden (FF) to clarify his comment about him being on the next assassination list.

Mr Leyden had not meant to “imply that Senator Regan was on an assassination list but he is a political assassin. That is the difference. He took out Bertie Ahern, Willie O’Dea . . . who is next on your list, Senator?”

Continue reading Regan urges Cowen to answer question and not get personal- Irish Times…

Irish Times Opinion Piece: Party loyalty and political survival put before ethics

OPINION: The most damaging aspect of the O’Dea affair is the evident loss of a sense of what is right and what is not in politics writes, EUGENE REGAN 

Continue reading Irish Times Opinion Piece: Party loyalty and political survival put before ethics…

Morning Ireland interview

Yesterday, I spoke on RTE’s Morning Ireland radio show with Aine Lawlor about Minister for Defence Willie O’Dea’s false statement. You can download the interview here

Interview on RTE Radio’s News at One

I spoke yesterday to Sean O’Rourke on RTE Radio’s News at One about the formal complaint I lodged with the EU about size and scope of NAMA.

The interview can be downloaded here