Mick Wallace So #Biden will start as #Trump left off - continuing to impose 'collective punishment' on the people of #Venezuelahttps://t.co/9gtWc2M5Yw
Mick Wallace #EU wants to talk about Western backed protesters in #HongKong where - unlike #US - police have killed no protester… https://t.co/0NaZRH0LxN
Mick Wallace RT @wallacemick: Very significant amendment for us to win - by just 2 votes - Tax Havens are largely responsible for helping to enshrine po…
Mick Wallace RT @wallacemick: #EU - Latin America gig talked about reducing inequality + overcoming #COVID19. During a pandemic one would expect all cou…
On Thursday, June 23rd Mick sought
clarification from Minister Howlin on the
proposed changes to the workings of NAMA, in particular who will be accountable now for the agency. The exchange, which was during the debate on the Ministers and Secretaries Bill, is detailed below. You can watch the debate here.
  Mick Wallace (Wexford, Independent)  I am very confused about the lack of accountability in NAMA and do not understand it. Did the Minister state it would not come under his wing?
Brendan Howlin (Minister, Department of Public Expenditure and Reform; Wexford, Labour)
The Minister for Finance will retain NAMA.
Mick Wallace (Wexford, Independent) 
Right. There seems to be a lack of accountability in regard to NAMA. Who decided what the wages would be? Brendan Howlin (Minister, Department of Public Expenditure and Reform; Wexford, Labour)
That is a very good question.
Mick Wallace (Wexford, Independent)
Who decided who would get the jobs? I have encountered many people who worked for banks and in real estate who have moved into NAMA. It seems they are getting more money now than they ever got in their previous jobs. I do not understand that, given that they are doing much the same type of work. It is questionable whether they should have got the work when one considers that they were part of this mess in the first instance. Why are they getting much more money now that they are working for the State, which is pretty short of money? Who should I ask these questions of? Brendan Howlin (Minister, Department of Public Expenditure and Reform; Wexford, Labour)
The Deputy raises some very pertinent questions. I made my general view clear yesterday, when I announced the new cap on salary levels within the public service. I said that nobody in the public service should earn more than €200,000, which is a healthy top-level salary, and that nobody in the commercial semi-State sector should earn more than €250,000. The exception to that will be the National Treasury Management Agency and its subsets, one of which is NAMA. Deputy Fleming will be much more familiar with this than I am. Did he participate in the famous all-night sitting on the NAMA legislation?
Seán Fleming (Laois-Offaly, Fianna Fail) 
No, I was not on that committee. Brendan Howlin (Minister, Department of Public Expenditure and Reform; Wexford, Labour)
The Deputy was not part of that. He was spared that ordeal. As he is aware, the NAMA legislation was passed by this House during an all-night session. I remind the Deputies opposite who spoke about rushed legislation that it was decided that the NAMA Bill could not wait until daylight. It had to be passed during the night. Deputy Wallace will be aware that a Wexford man - Dr. Bacon - was the genesis of this device. Perhaps I should not be name-checking people. As I understand it, Dr. Bacon was brought in as a consultant to the then Minister for Finance. He devised the NAMA concept as a vehicle for deleveraging the banks’ burden of impaired assets and loans. That was the policy platform of the previous Administration. This Administration is determined not to go ahead with the second tranche of it. The Acting Chairman will stop me any moment now because what I am saying is not appropriate to the debate on this Bill. Jack Wall (Kildare South, Labour)
I understand that. Brendan Howlin (Minister, Department of Public Expenditure and Reform; Wexford, Labour) 
It is a matter primarily for the Minister for Finance, who is responsible for NAMA. He will ensure it continues to function in the best interests of the economy. I am sure the Minister, Deputy Noonan, will make any changes that are required in that context. Jack Wall (Kildare South, Labour)
If Deputy Wallace tables questions to the Minister for Finance on the matter, I am sure he will get some replies. Mick Wallace (Wexford, Independent) 
I have some very interesting questions for him.

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Namaleaks is a project that seeks to uncover possible injustice and poor practice related to NAMA (National Asset Management Agency) and financial institutions in Ireland.


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