Oireachtas Joint and Select Committees

Wednesday, 10 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Tom O'Connell:

Well, I wasn't brought into the loop, in fact in the domestic standing group ... you know, kept going for a while at my level, say in the Department of Finance and the regulator and so on. But when the, when the Lehman's thing hit, and the shock to the credit markets really hit in September 2008, the whole thing was escalated to a higher level. You know, the Governor, the Financial Regulator and the secretary of the Department of Finance came into the picture then, because you know, taxpayers money was at stake. But ... I certainly wasn't in the loop on the guarantee at all, you know.

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