Oireachtas Joint and Select Committees
Tuesday, 10 March 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Michael D'Arcy (Fine Gael) | Oireachtas source
On page 122 of Mr. Carswell's book, he discusses the displeasure of Anglo Irish Bank towards stockbroking firms, and the firm I am talking about here is Davy:
By this stage Davy had grounds for suspicion that a major bad debt problem was building up at Anglo. The stockbroking firm had a busy private clients division which backs up property investment for wealthy customers. Davy turned down a number of property deals that were subsequently snapped up by Anglo for customers in its own wealth management division. The firm couldn't see how some of these deals worked.
Subsequently Anglo registered its displeasure directly with Davy's but also to the Financial Regulator in that it applied significant pressure. Could Mr. Carswell expand upon that portion of his book?
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