Oireachtas Joint and Select Committees
Wednesday, 27 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Ms Mary Burke:
I looked at that point for what I would have describe as a de minimusnumber. I was clear in my communication that I didn't believe it was the right number but I knew I had to get over various hurdles, including the process, the fact that Mazars were in reviewing, etc. So six was by no means the sort of numbers that would have made any ... I don't believe it would have made any fundamental difference to the outcome. What I had hoped to do was to establish dedicated two-person teams for each of the main banks. Now, given what we now know, that would still have been inadequate. And, as I say, I wasn't saying it was adequate. I ... at that point, I don't think it would have made any fundamental difference. My vision was that people would not be distracted from one bank to ... issues with another bank. But it still wouldn't have given us the resources to do intrusive supervision. And, I suppose, to the extent that I can take any comfort from things, I think Governor Honohan said in his own report that even if you had a brilliant idea at the end of '06, it was probably too late. I don't think my request for six staff was a brilliant idea but even, I think, if we had put in an army at that point, an awful lot of the damage was already done.
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