Oireachtas Joint and Select Committees
Wednesday, 29 April 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Ciarán Lynch (Cork South Central, Labour) | Oireachtas source
Mr. Gleeson, in his testimony last week, as I said, familiarised or kind of similarised the role of the regulator as being something like a referee. Now, if to develop upon Mr. Gleeson's analogy of ... a sporting analogy, referees in different codes of sport have different responses to them. In rugby, if the captain acts, operates in a very, maybe, described as a gentlemanly sort of role with the referee, and in soccer terms, maybe the players go nose to nose with the referee. What sort of approach did the AIB take, if they had concerns, as to how the refereeing was taking place, and Mr. Gleeson was saying that it was a very competitive market and the referee should have stepped in to calm things down. But players themselves have a responsibility to come to the referee to say ... at any stage, did you go to the regulator's office and say, "The model as it is developing at the moment, is of concern to us and we would like you to make an intervention"?
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