Deputy Finian Mc Grath has said that he supported N.A.M.A as the least best option to deal with the banking crisis. Of course it turned my stomach to vote on this issue but there was no other credible alternative. Bankers, Developers and Corrupt Politicians should be charged and prosecuted for ruining our country. However, we have to deal with their mess and hence my support. Fine Gael got their figures wrong again and the Labour Party are playing politics with their “Father Ted economics”. Of course I am furious but I have to try and save our economy and country.

My reasons are as follows.

• More Independent observers say it’s the only game in town.
• N.A.M.A. has carried out its valuation in a hard headed commercial manner putting the tax payer first.
• Winding up Anglo Irish Bank is not a viable option as the state would have to provide €70 billion up-front to meet deposits and bond holders. That’s a major issue. Keeping the bank open costs less.
• A longer term wind-down is not in our interest. Wind down would disrupt our financial system and damage economy.
• There has been a major clear out of top positions.
• Targeted lending not less than €3 billion each for new and increased credit facilities to S.M.E.’s in both 2010 and 2011.
• B.O.I and A.I.B must also make available €20 million each for seed capital to be provided to Enterprise Ireland.
• They will each set up a fund of up to €100 million for Environmental clean energy and Innovation Projects.
• Credit Review process for banks is a sensible option
• 15,000 families helped through the Mortgage Interest Subsidy scheme.
• No legal action to be taken against genuine borrowers.
• Deposit Guarantee scheme that covers €100,000 per depositor per institution. Labour opposed this. God help our people.

We have to fix our banking system. Those that say otherwise are misleading the Irish people.

I did not vote to bail out banks. I voted to assist our country even though it turned my stomach. There was no other option. Our people are demanding solutions not cheap political sound bites. I will always put our people and our country first, even if it is not popular.

Finally I won’t take lectures from a party that passed Dáil pickets during the public service strike or voted to remove bin charge waivers for our senior citizens and most disadvantaged sector in our society or refused to support Banks Guarantee which would have caused a run on our banks and trouble on our streets. That’s the real world for our people. I am standing by our people and try to do my best for my country. Above all I do honest and straight politics.