Oireachtas Joint and Select Committees
Thursday, 12 March 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Mr. Frank McDonald:
I do not think there was anything of particular importance in relation to it. It was normal for property developers to own office buildings or whatever else which would end up being rented to the State. In the past it was certainly true that connections were used to arrange for State tenants. In other words, a developer, before embarking on a particular office block, for example, would already have lined up a semi-State company or a branch of the Civil Service to occupy the building, which then made it a complete blue chip or a no fail investment.
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