3 replies on “Lenihan and McDonagh at Oireachtas Commitee”
There was a joke going around earlier this year after Obama was sworn in. When faced with difficult decisions, other western politicians would ask themselves: “What would Obama do?”
It would appear from BLenihan’s opening remarks that he took that joke seriously! Do no harm!
Real Player wigged out on me so i only saw trhe beginning.
It is apparent that both FG and Labour are engaging fully with NAMA. There was a slip of the tongue on Richard Bruton’s part when he said the FG National Recovery Bank had (changed to has) a contribution to make.
Interestingly, Joan Burton cited avoiding the Japan zombie scenario as Labour’s no. 1 goal. Labour know what the big message is and it’s jobs jobs jobs.
Biran Lenihan was very clear in relation to BoI and AIB that the reason that he was not contemplating wholesale nationalisation was because all the information available to him is that AIB and BoI are not insolvent. He said that if the process found otherwise then that would change things but that the market, the analysts, the rating agencies, the regulator and all the information available to him suggested that they were not insolvent and could indeed survive without NAMA (albeit in a zombie state working out loans very slowly). The Minister was very careful to say that his comments were specific to AIB and BoI.
3 replies on “Lenihan and McDonagh at Oireachtas Commitee”
There was a joke going around earlier this year after Obama was sworn in. When faced with difficult decisions, other western politicians would ask themselves: “What would Obama do?”
It would appear from BLenihan’s opening remarks that he took that joke seriously! Do no harm!
…. yes we can, time for change.
Playback available on RTE:
http://www.rte.ie/news/2009/0831/newsspecial_av.html?2602100,null,230
Real Player wigged out on me so i only saw trhe beginning.
It is apparent that both FG and Labour are engaging fully with NAMA. There was a slip of the tongue on Richard Bruton’s part when he said the FG National Recovery Bank had (changed to has) a contribution to make.
Interestingly, Joan Burton cited avoiding the Japan zombie scenario as Labour’s no. 1 goal. Labour know what the big message is and it’s jobs jobs jobs.
Biran Lenihan was very clear in relation to BoI and AIB that the reason that he was not contemplating wholesale nationalisation was because all the information available to him is that AIB and BoI are not insolvent. He said that if the process found otherwise then that would change things but that the market, the analysts, the rating agencies, the regulator and all the information available to him suggested that they were not insolvent and could indeed survive without NAMA (albeit in a zombie state working out loans very slowly). The Minister was very careful to say that his comments were specific to AIB and BoI.