It has been eight weeks since the Taoiseach agreed with other party leaders to initiate a commission of investigation into the sale of the Northern Ireland loan portfolio, Project Eagle. At the time, the view was that the investigation would not have to wait for the PAC investigation to conclude. Last week I submitted a letter to NAMA's chairman, Frank Daly. I named 20 individuals who work for NAMA who may have engaged in serious malpractice and I asked how many have been reported to An Garda Síochána under section 19 of the Criminal Justice Act. I am still waiting for a reply.

The Committee of Public Accounts has been examining the Comptroller and Auditor General's report for the past two months. The way in which NAMA and the Department of Finance treated the Comptroller and Auditor General has been shocking. NAMA and the Department of Finance have contradicted each other. They have been twisting and turning, ducking and diving in their efforts to undermine the Comptroller and Auditor General and his excellent report.

Cerberus representatives will come before the Committee of Public Accounts this afternoon. I am sure they will do fine, but does the Minister not believe it would be more fitting if they were going to the Garda bureau of fraud investigation in Harcourt Street to be questioned?

PIMCO pulled out of Project Eagle on 13 March 2014. Cerberus, Brown Rudnick and Tughans, which had worked for PIMCO on 24 March, lodged their bid on 1 April, six working days later, and crossed the line two days later on 3 April. It was £15 million for Brown Rudnick, Tughans and God knows who else - nice money, thanks very much. What was it for? Inside information from the cabal of Cushnahan, Watters and Hanna? The only other bidder, Fortress, was not even allowed to hire local real estate valuers. It was not a competitive process; it was a scam.

NAMA has undersold a massive slice of this country to US vulture funds for a fraction of its value. It is contributing in a serious way to our housing crisis. It is not part of the solution to the housing crisis; it is part of the problem. Will this Government suspend the NAMA board and the executive pending a thorough commission of investigation into all of its workings? This issue will in time prove to be the biggest financial scandal in the history of the State.

Last weekend, I travelled to Asia to meet a businessman who contacted me through NAMA leaks. I went to collect documents and e-mails. Within a short time of Frank Cushnahan being appointed to NAMA, he was peddling assets belonging to NAMA to foreign parts. Tughans was involved. The Japanese bank, NOMURA, was involved, which was later the main financier for Cerberus's purchase of Project Eagle. NAMA, from start to finish, stinks to high heaven. Will the Minister indicate when we will have a commission of investigation, and will the Government suspend the NAMA board and executive until we get that investigation?

No, the Government will not be suspending the board of NAMA or any of its officers with regard to this issue. It is, as is the case with any other body, entitled to see a process in which it is participating completed. The Deputy has on a number of occasions called for investigation and interrogation to be carried out regarding the circumstances of Project Eagle. That is what is happening at the moment. That is the work the Committee of Public Accounts is doing. It makes a pleasant change to hear the Deputy vouch confidence in an institution of State such as the Comptroller and Auditor General and his report on that matter. That report is providing the bedrock in terms of the inquiry taking place with regard to Project Eagle. I understand a hearing on that took place this week under the chairmanship of Deputy Fleming at which we have seen the Deputy First Minister, Martin McGuinness, appear. The Minister for Finance, Deputy Michael Noonan, in recognition of the allegations that have been made about this issue, appeared before the Committee of Public Accounts to respond to potential issues of public concern. Clearly, Deputy Wallace feels strongly about this matter. If he has evidence he wants to raise on it, as he has done this morning, I ask him to go before the Committee of Public Accounts and provide it in a fuller way with the claims and evidence he is raising in the House today.

I often go the Committee of Public Accounts. I have been to the gardaí several times and the National Crime Agency. Unlike the NAMA officials, the Comptroller and Auditor General is excellent.

I want to give the Minister a taste of some of the e-mails. The first is dated December 2010 and is from Frank Cushnahan to the businessman. He starts by apologising for the delay in completing the document and explains that he has been heavily engaged by NAMA. He states that there are very substantial opportunities for major returns to be made for anyone who can access international and institutional funds to acquire blocks of development assets from either development or the agency itself. He states that he will initiate any necessary documentation to secure the best interest of all.

The reply starts with the businessman thanking Mr. Cushnahan. He states that he completely understands the demands made on Mr. Cushnahan by NAMA and the work that it entails, and states that he explained this to both individuals. He states that both now also understand the situation, especially as the plight of Ireland has been internationally reported. He states that if anything, it has reinforced their opinions of Mr. Cushnahan's abilities. He thanks him also for giving them the information on acquisition success fees.

The Deputy is out of time.

I will just finish with this one. Beginning, "Hi", it states that the businessman had a very good meeting with Frank yesterday, and on the NAMA bank debt issue, he has a draft of the agreement they all should sign, along with Frank, to ensure that they not only get a percentage of the money being invested but also a percentage of the special purpose vehicle and the profits to be made when the asset is sold, and that Frank will ensure that only people with the highest integrity at Government level would be involved and the returns look very, very good.

I thank Deputy Wallace.

For the information of the Minister, I have a lot of them.

Can I just confirm my understanding? Has Deputy Wallace agreed to appear in front of the Committee of Public Accounts about this issue?

I did, yes.

Will the Deputy?

The Minister's party objected to me.

And when will the Deputy do it?

The Minister's party objected to it.

We must have process in relation to all of this. Deputy Wallace has called for, and the Government responded-----

When are we getting the investigation?

-----through seeing the Comptroller and Auditor General do its work. The report was made public, as of course it should be. On the back of that then, the Committee of Public Accounts is doing the work. Government has already made clear that in the aftermath of that happening, because we have confidence in the ability of Members of the Oireachtas, both Government or non-Government-----

They are not investigators.

-----to provide a valuable service in understanding and interrogating an issue that we understand to be of public concern-----

They do not have the power to investigate anybody.

I ask that Deputy Wallace do the same, and with the alleged evidence that he has-----

It is unbelievable what is going on.

Please.

------and with the claims that he has-----

Why does the Government not care about the fact that NAMA is rotten?

Please.

-----that the Deputy makes that available to the Committee of Public Accounts, Deputy Wallace himself go in and give testimony on the points that he has raised.

The Government does not want to know the truth.

Of course, all of the claims that Deputy Wallace has concluded with there are precisely because we recognise here that there are issues that merited further understanding on behalf of the Government, the Oireachtas and the public and the Committee of Public Accounts went ahead and did its work as a body of the Oireachtas which it should. The Government has already made clear that if further steps are needed beyond that, of course, it will make sure they happen.