Oireachtas Joint and Select Committees

Wednesday, 2 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Michael Walsh:

I was about to, right. I mean, to be absolutely clear, first of all, as I say everybody expected, including myself, including the regulator, the society would be sold in 2007. It was abundantly clear that, you know, the society would not be sold once you hit the beginnings of the global liquidity crisis. The next day, when I actually went to the regulator in whatever date it was in December of 2007, I said, "Look, the society is not going to be sold. In that context, we need to actually increase the management team, increase the actual board."

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