Oireachtas Joint and Select Committees

Thursday, 28 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Patrick Neary:

No, I would not put it that way. It was a failure, I think, a misjudgment of the risk by people that did not propel people to take decisions to use the powers. I think if the assessment of the risk was judged to be a major threat I think that would have forced people to consider what actions. I can't see that people would ignore the need to take actions if we had adjudicated on the risk properly but we did not adjudicate on the risk properly, so therefore it was not a matter of people being involved in dereliction. It was people involved in misjudgment.

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