Oireachtas Joint and Select Committees

Thursday, 26 February 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Mr. David McWilliams:

That is the one that put the wind up me. I was asking if it was just Anglo Irish Bank and he mentioned all the banks. I will explain what happens when things are going well. Let us say I am good for my money and Deputy Phelan gives me €100 and I say I will give it back in 100 days. Deputy Phelan will say that is fine. If he then hears that I have given €80 of that €100 to someone to whom I owe money and that fellow has given money to someone he owes, he will say he is only giving me the money for a week.

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