Padraig Kissane presenting to the Oireachtas Finance Committee next Tuesday, 21st

admin

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I missed the start. I came in on Pearse Doherty asking questions. He was followed by Michael McGrath. And now a Sinn Fein senator????

Is there no one there from FG? From Labour?

The only other person I recognised was a FF Senator - Gerry(?) Horkan?

Brendan
 

Gen360

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97
Sitting here watching this with tears in my eyes. I remember sitting in the bank being told I was in a unique situation and being made to feel like a fool for fixing. They have screwed so many of us.
 

Jespie1

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Well done padraic. If only the ceos of the banks had half your integrity we would never have gotten to the mess that we are now in. Your giving each and every one of us a voice.
 

julianato

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Just read this and missed the live channel, but the video might be downloadable over the next week or two at oireachtas.ie/parliament/watchlisten/downloadvideofiles/

Well done Padraic, looking forward to watching you in action.
 

Bikini Widow

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Powerful message and call to action to TDs present -- would be great to get these guys engaged and applying pressure to the correct areas
 

marchflowers

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Thank you Padraic for giving us a voice - on an issue that would be long forgotten, but for your perseverance.
 
M

mister32

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FG conspicuous by absence.
What's that about?

The discussion was fantastic.

Hopefully the finance committee will go away and act on it.

Big thank you to Padraic

Also Brendan B

Also Michael McGrath

Pearse Doherty

John Mc Guinness

Rose ConwayWalsh

I may have missed a few people
 
F

Freshstart

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Wow utterly blown away by how calmly passionate Padraic is. I won't lie I was in tears as he laid bare the devastation that's rocked countless families including my own. I for one feel buoyed by Mr Kissanes words and hope many take heart he is continuing to make progress for us all.
 

SaySomething

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I've total brain freeze after sitting there biting on my tongue in the gallery. Desperate I couldn't cheer. I managed to meet with a couple of the committee members before and after. They promise to keep it to the forefront. If you take anything from the meeting today, wrote to them & tell your story. It keeps the campaign alive. Well done Padraic & great to meet you in person.
 

Lightening

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Me too I was on the edge of my chair it was mind blowing stuff!! I particularly got excited at one of the suggested three options that the committee are faced with to get this issue resolved; that all accounts effected start paying the tracker rates now. I nearly fell off my chair with excitement!'
 

Jespie1

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Me too I was on the edge of my chair it was mind blowing stuff!! I particularly got excited at one of the suggested three options that the committee are faced with to get this issue resolved; that all accounts effected start paying the tracker rates now. I nearly fell off my chair with excitement!'
I would love to have the courage to do this
 

Sarenco

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A few quick observations:-
  • Like others, I thought Padraic's testimony regarding the direct and indirect impact of the issue on the relevant borrowers was utterly compelling.
  • I was very surprised at Padraic's reluctance to criticise the Central Bank's failure to put in place a transparent, time-bound review process and I sensed a number of Committee members shared my surprise in this regard.
  • I was, frankly, stunned when Pádraig said that he now advises BOI borrowers that switched from trackers to avail of the discounted staff products not to engage him.
  • While I think the relevant banks are on very shaky legal ground (to put it mildly) regarding the "prevailing" tracker issue, I wouldn't necessarily agree with Padraic's view that the phrase simply refers to the variable nature of the underlying reference rate.
  • I struggled to follow the logic of the response to the question posed by Peter Burke TD (Fine Gael) towards the end of the session (although I suspect fatigue was an issue by that stage).
It was interesting to hear the Committee members suggest that they would have to invite the relevant lenders to attend before them on a quarterly basis to bring some finality to this saga. While that is obviously to be welcomed, surely that would be unnecessary if the Central Bank put a transparent review process in place?
 

MAX01

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I missed it so am in shock when I read his comments re BOI staff. Why would he make this statement at this hearing? Why do it in such a public manner instead of advising the staff themselves? Did he give any reasons for making this statement?
 
D

Dan Murray

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(a) Like others, I thought Padraic's testimony regarding the direct and indirect impact of the issue on the relevant borrowers was utterly compelling.
(b) I was very surprised at Padraic's reluctance to criticise the Central Bank's failure to put in place a transparent, time-bound review process and I sensed a number of Committee members shared my surprise in this regard.
Interesting analysis, Sarenco

These two points particularly resonated with me.

(a) Padraic did a very good job here and is to be applauded for his work down the years.

(b) I simply cannot understand Padraic's views on the Central Bank - the CB has massive resources, is the responsible authority for consumer protection and should have put in place a timeframe for resolution years ago. The CB has clearly failed badly in this duty. Rose Conway-Walsh tried to probe this responsibility of the CB - to no avail. John McGuinness, to his credit, did not let the matter rest and made clear how unimpressed he is with the performance of the CB. I was also very impressed with how solutions focussed McGuinness was.

What needs to happen? Remind the CB of its responsibilities and get them to put a plan in place with deadlines. They also need to be much more directive.
 

Sarenco

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Agree on all counts Dan.

Padraic is unquestionably a very able and determined advocate for his clients.

I also share your puzzlement regarding Padraic's attitude to the Central Bank's role in this saga. I have to say I was impressed with the engagement of all Committee members - it was obvious to me that they are genuinely looking for a pathway to resolve this issue.
 

Sligolive

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58
Perhaps Pauric is committed to working with the CBI on this project and does not wish to be seen as overly critical of the CBI as it may strain that relationship.
 
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