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Politicians with banks shares should stay out of NAMA debate

12 September, 2009 - by Aengus Ó Snodaigh TD


Sinn Féin TD Aengus Ó Snodaigh said today that politicians with bank shares should be obliged to absent themselves from the debate on NAMA. Deputy Ó Snodaigh listed 20 TDs/MEPs from Fianna Fáil, Fine Gael and Labour who disclosed banks shares in 2008 and said they could not claim to be unbiased when it came to debating the banking crisis.

Deputy Ó Snodaigh said: “No TD who has shares in the major banks can claim to be unbiased in the debate on the banking crisis. Seán Haughey for example disclosed shares in six banks at the end of 2008 – of course he is going to support NAMA which will bailout shareholders as much as banks.

“Sinn Féin is supporting nationalisation which is the best option to protect the taxpayer. It’s no wonder the likes of Fine Gael is not supporting this plan when its finance spokesperson had shares in Bank of Ireland and AIB last year and may still have. TDs with shares in overseas investments should also own up to any vested interests they might have in NAMA.

“We have always had politicians in this state with vested interests, but now those politicians are trying to hang €90 billion worth of debt around the ordinary taxpayer’s neck. Any politician who has banks shares should not be partaking in a debate on the banking crisis and should certainly be forbidden from voting on the NAMA proposition.” ENDS

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