Oireachtas Joint and Select Committees
Wednesday, 22 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Ciarán Lynch (Cork South Central, Labour) | Oireachtas source
Sorry, in that the ... going back to your earlier response to Deputy Doherty, where you said there was thousands of people came into the property ... construction, people who had no background in building became developers overnight and so forth. In earlier testimony to this inquiry, there was discussion with regard to a different type of business model into the future that might be more sustainable and that might not create situations where one individual or a very tight team of people through a sort of conglomerate ... not a conglomerate but a cartel, coming together, or whatever ... would have such a level of exposure and indebtedness. So a company that would be borrowed ... or would be in construction that maybe would have €0.5 billion or maybe €2 billion worth of liabilities and assets would be ... would have a corporate structure with shareholders and that type of approach. Has that been something that you've given consideration to, given your experience over the last decade?
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