Oireachtas Joint and Select Committees
Thursday, 14 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Richard Burrows:
I think the reason for the property collapse was not due to that. The reason for the property collapse was because the market dried up, because funding was no longer available and transactions could no longer be done. As to the issue of how individual developers established their own equity, that's a subjective manner.
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