Oireachtas Joint and Select Committees
Thursday, 5 February 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Professor William Black:
In retrospect we can tell because receivership would have been a vastly better solution. The banks were in fact deeply insolvent. That is the reality. The claim by the banks that they were not was false and the assurance by regulators to the politicians that there were no asset problems was preposterous based on the facts they knew.
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