Oireachtas Joint and Select Committees

Thursday, 21 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

So so your testimony is ... your testimony today is the financial stability ... financial stability was sound up until the period of 2008-2009. And if that is your view today, can I ask you how you can ... how you can express that view given what we know today ... in terms of credit concentration limits, in terms of over-exposure to property, in terms of a commercial and housing property bubble, and in terms of the fact that some financial institutions were nearly exclusively devoted to lending into the property sector? How can the statement that you have made today sit ... sit beside the evidence that we have today in 2015 that this is what was going on within certain financial institutions in the periods from 2004 up until 2007 and 2008 where you believe that financial stability was sound?

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