Brendan Burgess
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The Sunday Times has a great article on Peter Mathews today.
Peter Mathews: "I am better than Noonan"
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Brendan Burgess
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One very good think which Peter Mathews is doing is that he is organising briefing sessions with backbench TDs from economists such as Karl Whelan, Gurdgiev and Colm McCarthy.
I understand that TDs get no training or briefing at all. I think that there should be some formal training for them and they should be obliged to participate in it.
I understand that TDs get no training or briefing at all. I think that there should be some formal training for them and they should be obliged to participate in it.
I agree with that. Of course, none of those guys would be known to be hugely supportive of the last or this Government's stance!
Brendan Burgess
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It's the principle of training or briefing that I like. Colm McCarthy and Karl Whelan are good and they would learn from them.
It would be important to provide a range of views including those from the Department of Finance as well.
Met Peter Matthews when he called to the door prior to the election. I asked him for a brief background and he spoke uninterrupted (even thought I tried to interrupt him) for nigh on 10 minutes straight. I had a number of issues that I wanted to discuss, but time ran out.
In short I can see how he would absolutely annoy the hell out of anyone in FG.
In short I can see how he would absolutely annoy the hell out of anyone in FG.
Brendan Burgess
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I don't suppose you were taking notes. His background is very vaguely described. I wouldn't mind seeing a CV with names of employers and months and years.
His CV is alright but I am always wary when someone describes themselves as an expert. He has experience in working out troubled loans and property which is fair enough. He has zero experience of solving banking crises, general banking and macro-economics, and yet he talks like he is some sort of underused Sage.
He'll fall out with FG (a la George Lee) when he realises that in politics gombeenism and cronyism is more important than ability.
When Ministries are awarded on the basis that candidates "brought home the second seat in their constituency", it's grounds for concern.
Peter Mathews should be the Minister for Finance. He's a chartered accountant and banking expert. But sure this is Ireland...let's give the job to a teacher!
When Ministries are awarded on the basis that candidates "brought home the second seat in their constituency", it's grounds for concern.
Peter Mathews should be the Minister for Finance. He's a chartered accountant and banking expert. But sure this is Ireland...let's give the job to a teacher!
Brendan Burgess
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This is too vague for me. Sounds more like a property developer than a banker.
Who apart from Peter Matthews says he is a banking expert? He worked in one narrow area of banking.
Hi Brendan
I don't think that people are being fair to Peter. Based on the information reflected in the above link, the guy should be Minister for Finance. He appears to be the most qualified and commercially experienced individual in the Dail.
I have no real connection with Mr Mathews.
From http://bankermathews.com/about/ :
"...managed the Enterprise Development, Hi Tech and FDI Lending Sections of the Bank...appointed to develop and manage the Property Development, Construction and Investment Lending Section, a new specialist area of lending for the Bank...provided carefully appraised Term Loan facilities and finance as well as Performance Bond underwriting facilities to hundreds of Builders, Developers and Property Investors in Ireland and the UK during the 1980’s and 1990’s...commended by the Bank for outstanding work on a special assignment in the area of non-performing loans, loans work-outs, restructurings and recoveries achieving substantial write-backs to profit for ICC Bank plc during the1980’s...director of an Irish Incorporated and Irish resident Financial Assets Holding Company, sponsored by KBC Bank, with assets of US $5.0 billion and alternate director of other companies..."
In my view, all of the above entitles Peter Mathews to call himself a "banking expert". His knowledge of the sector appears to be light years ahead of anything else in the Dail right now. The fact that he's a chartered accountant and tax consultant gives him additional credibility.
He must be an extremely frustrated individual...with his experience the teachers and social workers in the Dail should be listening to his speeches and contributions.
Let's read between the lines and parse this a little.
"In 1999 he set up an independent Banking – Property and Finance – Consultancy practice in Dublin, consulting and brokering property related deals ,... and advising in Zoning and Planning matters, for clients including a Public Body, property investors, family landowners, developers and construction groups."
Translated - He helped inflate the property bubble
"Post 2004, in an over-heated property market, he concentrated on advising and assisting clients to dispose of land and property... (mainly disposals in period post 2004)"
Translated - He saw the end coming and helped his clients get their money out.
This makes Mathews an Expert?
We've had enough of THAT kind of expert.
We need one that can pick up the pieces - not break Humpty Dumpty!
- You don't need to be an expert to give Dukes a metaphorical kick in the pants to get the codes from those Anglo Fraudsters.
- You don't need an expert to pick up the phone to the heads of AIB and BOI and tell them to "Start Lending Money Into the Economy!"
- You just need to not be beholden to the Banks and to possess the will to do the obvious, and not just the right, thing.
So unless the above is the substance of Mathews advices, and I have summed it up in three sentences, he doesn't sound like much of an expert to me.
ONQ.
"In 1999 he set up an independent Banking – Property and Finance – Consultancy practice in Dublin, consulting and brokering property related deals ,... and advising in Zoning and Planning matters, for clients including a Public Body, property investors, family landowners, developers and construction groups."
Translated - He helped inflate the property bubble
"Post 2004, in an over-heated property market, he concentrated on advising and assisting clients to dispose of land and property... (mainly disposals in period post 2004)"
Translated - He saw the end coming and helped his clients get their money out.
This makes Mathews an Expert?
We've had enough of THAT kind of expert.
We need one that can pick up the pieces - not break Humpty Dumpty!
- You don't need to be an expert to give Dukes a metaphorical kick in the pants to get the codes from those Anglo Fraudsters.
- You don't need an expert to pick up the phone to the heads of AIB and BOI and tell them to "Start Lending Money Into the Economy!"
- You just need to not be beholden to the Banks and to possess the will to do the obvious, and not just the right, thing.
So unless the above is the substance of Mathews advices, and I have summed it up in three sentences, he doesn't sound like much of an expert to me.
ONQ.
That's his own blog. He brags about being an alternate director but that just means he is substitute for the real elected director. I have been sent to Board meetings as an alternative. It doesn't make me an expert.
I help manage a portfolio of bonds and loans of over €8 billion and I still haven't a clue how to solve this crisis.
Not sure why being a Chartered Accountant and Tax Consultant gives him additional credibility when it comes to being an expert.
I am not knocking his desire to the right thing but his view is no more important than any other commentator despite his high self regard.
He has managed sections of a bank.
He was chosen to develop and manage a new section of a bank.
He received a commendation for outstanding work on an assignment related to non performing loans, work outs and restructuring.
He's a director of a financial assets holding company related to one of the banks.
The term "banking expert" isn't defined anywhere. Based on the above, Peter Mathews is in my view entitled to call himself a banking expert. His professional qualifications give him extra credibility - Part of being a chartered accountant is the ability to interpret financial data. Part of being a tax consultant is understanding the interaction between Revenue, the Department of Finance and government.
I can't believe that people are criticsing this guy to be honest. Here's a guy with decades of high level commercial experience, a guy with multiple professional qualifications and he's apparently being marginalised by the usual gombeen shower of former public servants that populate the Dail.
Richard Bruton is a research economist by profession. He was educated in Oxford university. He worked in the private sector before going into politics. His thesis was done on the subject of Irish National Debt
I don't remember him proclaiming himself to the saviour of the Country and better than the sitting Minister of Finance.
I don't remember him proclaiming himself to the saviour of the Country and better than the sitting Minister of Finance.