Oireachtas Joint and Select Committees
Thursday, 18 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. John Moran:
Yes, the assets were probably bought at the very ... at a reasonable price. I mean, I think if you end up in the context of the markets we've had recently making a profit, while a very large number, right, in the absolute, but as a percentage of that it shows that the process that was actually gone through, right, to apply the discounts was done with a very ... you know, was actually quite accurate in the background. Had they bought them at 60% and we were looking at them making a deficit of €20 billion we'd be having a very different conversation, because the money would have gone to shareholders of the banks.
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