# Some questions which TDs and Senators might ask today (26-05-2009)



## Brendan Burgess (26 May 2009)

The Oireachtas Committee on Finance and the Public Service is meeting today and will hear presentations from 

Peter Bacon
Brendan McDonagh the NAMA interim Chief Executive. 

Can we suggest some questions for the members of the committee to ask. 

Simple questions please, rather than reopening of the discussions.


----------



## Brendan Burgess (26 May 2009)

*Re: Some questions which TDs and Senators might ask today*

1) Why are the good loans being included as well as the non-performing loans? 
2) Why are The Irish Nationwide and Anglo Irish Bank considered of systemic importance?
3) How much does each bank have in bonds which are not covered by the government guarantee? 
4) Should the NTMA buy the unguaranteed bonds at a discount as Bank of Ireland is doing? 
5) Should the NTMA take over AIB and Bank of Ireland to avoid the stigma of nationalisation, but getting all the advantages?


----------



## Mpsox (26 May 2009)

*Re: Some questions which TDs and Senators might ask today*

What is the governance and reporting process for the NAMA?
How will the taxpayer be informed as to the performance of the NAMA
Does it have any plans to extend it's remits to include non Irish owned banks such as NIB or UB and also to credit unions
Is it taking on any bad loans not relating to developers(eg private house owners in default) and if so, how agressive will it be in chasing those funds


----------



## rgfuller (26 May 2009)

*Re: Some questions which TDs and Senators might ask today*

How will the day-to-day running expenses of NAMA be funded and kept efficient ?


----------



## Bronte (26 May 2009)

*Re: Some questions which TDs and Senators might ask today*

What is the expertise of the people who will run NAMA
Have they any connections with the banks or builders or property deals
Will they be able to force all developers/builders to put their loans into NAMA, what if the builders/developers go to court
Has NAMA got teeth
What will the banks be paying back the taxpayer in return for the getting them out of the hole they have created for themselves.  For example a percentage of their profits for the next 50 years
What cap on pay and bonuses and expenses will the bankers agree to abide by into the future (not just now) in return for NAMA


----------



## Duke of Marmalade (26 May 2009)

*Re: Some questions which TDs and Senators might ask today*

Q for Dr Bacon.

He made a big play that it was essential that NAMA stand between the banks and the developers.

Now that it transpires that NAMA will be outsourcing the loan management to the banks, is he satisfied that NAMA will be sufficiently removed from what he called "croney capitalist" relationships?


----------



## Sunny (26 May 2009)

*Re: Some questions which TDs and Senators might ask today*

Main question I want to know is what sort of due diligence has been done on the loan books or are NAMA relying on the banks representations. For example after the recent cases of Michael Lynn etc I would have serious concerns over the quality of the legal work done by banks. Wouldn't be surprised if we suddenly discovered that the same property ends up being used as security on different loans.


----------



## Spondulicks (26 May 2009)

*Re: Some questions which TDs and Senators might ask today*

1. What incentive system will NAMA have for its staff and if it is not the same as for the Banks, will some economist explain why that is the case?

2. What benchmark will be used for judging its performance?

3. What is the tail likely to be on recoveries and how soon will NAMA come up with a projection?

4. What lessons can we learn from the whole security and charging process with respect to property from the operation of NAMA?

5. Will NAMA transfer properties to the National Pension Reserve Fund if the State can seize property on foot of non recoverable loans?

6. Will the State plant trees on agricultural land using Coillte as the vehicle in the event of seizing suitable land which is illiquid?


----------



## Bronte (27 May 2009)

*Re: Some questions which TDs and Senators might ask today*

Were any of the above suggestions asked yesterday and what was the response?  Is Brendan a member of the committee?


----------



## Brendan Burgess (27 May 2009)

*Re: Some questions which TDs and Senators might ask today*

Hi Bronte

Thanks for the compliment, but I am not a TD or a Senator. 

I was surprised at how little coverage there was on the 9pm news, so I have no idea if the questions were asked.

The minutes will be published here over the next day or two:

http://debates.oireachtas.ie/CommitteeMenu.aspx?Dail=30&Cid=FI

Brendan


----------



## Bronte (27 May 2009)

*Re: Some questions which TDs and Senators might ask today*

I realise you are not an elected member, but I thought you were linked to the committee in some way maybe.  I assumed that you asked us what questions so that they could be given to the committee etc.  Maybe naive of me.  

I did hear that there is a link between Bacon and 5 of the developers on the radio.  He did some work for them I think.


----------



## room305 (4 Jun 2009)

*Re: Some questions which TDs and Senators might ask today*



Bronte said:


> I did hear that there is a link between Bacon and 5 of the developers on the radio.  He did some work for them I think.



He was a handsomely paid director for Ballymore properties if I recall correctly.


----------



## Bronte (5 Jun 2009)

*Re: Some questions which TDs and Senators might ask today*



room305 said:


> He was a handsomely paid director for Ballymore properties if I recall correctly.


 
I suppose as he is upfront and as we know about his links it's fine.  It would be nearly impossible in such a small population as Ireland to find any expert who has not dealt with or had dealings with developers.


----------

