Order of Business - 1st April 2009

Order of Business - 1st April 2009
Senator David Norris: On the downgrading of Ireland's AAA credit rating by Standard & Poor's, which is a commercial firm and rating agency, Standard & Poor's was at the centre of the mess which caused the international financial collapse. It was among those rating firms and being paid for it by the firms they were rating. It joined the race to the bottom and, as a result, missed some of the toxic elements in the bundles being provided to international financial institutions.
It was heavily involved in the mess involving sub-prime mortgages. I see Standard & Poor's as an essential element of the economic catastrophe facing America and the rest of the planet. It decided to amend Ireland's credit position by moving us away from our AAA rating. There might well be good grounds for that - I do not know. While I am not in a position to comment on that, I would have thought that it would have been intelligent for Standard & Poor's to have waited for the Government to make its budget day proposals before it popped out its little nose in this respect.
Senator Terry Leyden: Hear, hear.
Senator David Norris: When I heard that Mr. Frank Gill, who is one of Standard & Poor's senior executives, was apparently suggesting that regime change was needed in Ireland, I thought it was an April fool's prank. It takes a hell of a cheek for someone from such a discredited agency to make such a comment.
Senator Terry Leyden: Hear, hear.
Senator David Norris: I note that a serious interpretation was placed on the words of Standard & Poor's in the other House yesterday. I refer to the comments of Deputy Enda Kenny, who asked the Taoiseach if he agreed with Standard & Poor's "that there is no confidence in the Irish Government, that the Taoiseach has failed to deal with the economic challenges of the country, that he has presided over a disastrous banking system, that we have had a calamitous loss of competitiveness and that the Taoiseach should go". I do not think I have ever previously heard a senior representative of an international financial group calling for the removal from office of a democratically elected prime minister. While I have difficulties with some of the Government's policies, I understand that we need a certain amount of democracy. It is outrageous for a person from such a background to call for regime change, which is apparently what an official from Standard & Poor's has done. We need a fully independent and non-commercial rating agency. Perhaps it could be a function of the European Union.
When Senator John Paul Phelan and I previously raised the fate of the residents of Bethany House in Carlow, we were given various undertakings to the effect that the elderly and vulnerable people in question would not be disadvantaged or moved without consent. I was not the only person to argue that moving quite functional elderly people into a hospital where they would be bed-ridden for almost the entire day would be like imposing a sentence of death on them. We were assured that this would not happen without consent. I have in front of me signed forms making it clear that consent was not being given. I understand that ambulances started to arrive at the front door of Bethany House a few days ago to remove casualties. These were not casualties. These were unwilling elderly people who were forcibly removed from the nursing home. Will the Leader transmit to the Minister for Health and Children our continued interest in and our grave concern about this matter?
While he is doing that, he might inform the Minister, Deputy Harney, that I strongly support my colleagues who have appealed for urgent priority to be given to the cystic fibrosis patients who avail of the much-needed facility at St. Vincent's Hospital. I do not intend to reopen that debate now, as I have contributed to it on enough occasions in the past.