Oireachtas Joint and Select Committees

Thursday, 16 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

You've like ... you've given interviews in the media about being backslapped by developers on the way into Croke Park and, indeed, there's many other stories. I think Mr. Quinn lent you his helicopter to go canvassing in Donegal at one stage and there's many other stories that appear in the media. And, indeed, actually, one of them if I can refer to, in 2009, as part of the promotion for your autobiography that I've already mentioned, The Irish Timeson 28 September 2009 reported on one of these interviews that you did, and it said that Mr. Ahern said:

...it was untrue that the Fianna Fáil tent at the Galway races was full of big developers. The best year for the tent was 2005 and only 19 of the 635 people in it on the main day of the races that year, he asserts, could be classified as developers or big builders. Another 30 could be considered builders “and the rest are the fellas you’d get in to do a small job on your house”.

So, now we know from the Nyberg report, Mr. Ahern that the aggregate exposure of the top 20 customers as of 31 May, as of the time you left as Taoiseach in 2008, they had 50% of the €41.7 billion loan book. And we know from Nationwide that they had 51%, 25 of them had 21% and we know that the top 25 borrowers had €25 billion between them borrowed at that time from the banks. So, when it comes to the property-State-finance nexus in the State, are we dealing with a small number of developers, less than 30 it seems? But you were quite precise in your interview, about the 19 big developers. Do you have the names of those 19 big developers that attended on that one day on the Galway tent and do you want to share it with the committee?

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