Day: October 1, 2008

Response from Sean Sherlock (Lab) on Bailout Bill

Look, a politician with an opinion and something tangible to say in response to my query on the Bailout Bill! Ye gods, will wonders never cease?!


Just a note in response to your email. I am sure that you can appreciate that we received first sight of this legislation at 9pm approximately last night. I am not in favour of the way in which this is being rushed through. Further, the legisaltion as it is framed presently, is a “dire” piece of legislation, in that there is no clarity as to the powers of the Minister. There is no “parliamentary Oversight”. We have proposed amendments. Please see the following press release which sets out our position.

At time of writing we are presently discussing the 1st amendment. We dont know as we speak how all of this will pan out and whether the Minister will take on board our concerns.The Minister’s response to our amendments will determine our ultimate support, or otherwise, for this Bill and I am not in a position to say whether we are supporting it or not because, frankly, we just don’t know until we have voted on the amendments.

But if you read the amendments and look at the Dail transcripts you will see that we have taken a strong position on protecting the taxpayer and I personally could not support a Bill that will see the taxpayer seriously exposed without any quid pro quo for the Banks. On a daily basis I am dealing with people who are laid off from work with costly mortgages who are not given any such sweet deal. There should be no double standards on this.

Please bear with me on this. The next three or four hours will see a further change in the landscape so drop me a line then and I will let you know the position as it unfurls.

All the best


Still nothing from Fianna Failers Michael Ahern and Ned O’Keeffe, surprise surprise.

The Irish Bailout Bill

Sent this email to my TDs in Cork East last night: Sean Sherlock (Lab), Michael Ahern (FF), Ned O’Keeffe (FF) and David Stanton (FG).


I’m a contituent from Ladysbridge. Please vote against the bailout bill that will be put before you tomorrow, rushed legislation is ALWAYS bad legislation.

I’ll be watching your voting record with interest, it will affect mine in future.

Yours sincerely,
Adam Beecher

Thus far, the only one to respond has been David Stanton. His email seems to be saying “we know best” but “I may not vote anyway”. Brilliant.

Dear Adam,

Thank you for your email. We are all very concerned at the current banking situation and the need to provide adequate, extensive and robust legislation to protect any measures being taken. If the banking system were to collapse, this would have major repercussions for everyone in the country.
You may be aware that no vote is being called on the Bill today as the debate is ongoing with Committee Stage being taken in the Dail. This procedure gives the opposition parties a chance to put forward amendments to the proposed legislation. I may not, in fact, get an opportunitty to vote on the Bill at all, if a vote is not called.
Finally, Richard Bruton TD, is out Fine Gael spokesperson for Finance and is responsible for tabling our amendments at committee stage. I can assure you that he is very knowledgeable and well briefed on the issue and the legislation put forward.

Best regards,
David Stanton TD