Oireachtas Joint and Select Committees

Wednesday, 17 December 2014

Committee of Inquiry into the Banking Crisis

Context Phase

1:00 am

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

Following on from that point, Mr. Nyberg flows on from that statement in his report and goes on to state that "The Commission ... has reluctantly come to the conclusion that at least some of the financial market professionals at the time must have entertained private, undisclosed doubts on the sustainability of banks' lending and funding policies." Did Mr. Nyberg come across any evidence to support that claim in his report? He also states in his report that "the public and private watchdogs" did not act "not only because they did not know, but ... because it was not ... [politically] acceptable, legally necessary or prudent to act at the time". Has Mr. Nyberg come across any evidence to suggest that watchdogs, public and private, did know but, for the reasons he outlined, they decided not to act?