Oireachtas Joint and Select Committees

Wednesday, 10 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

At that time, or even in the period preceding that, did you bring to the attention of anyone more senior than you, the direct link, as you saw it, between assets which were overvalued and the impact of the inevitable crash, as you saw it, that would have on the balance sheets of the banks and therefore would blow a huge hole in their capital base, which was going to result in the collapse of banks ... our taxpayers having to step in to recapitalise them? I mean-----

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