Oireachtas Joint and Select Committees
Wednesday, 21 January 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Susan O'Keeffe (Labour)
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On page 6, Mr. Regling states: "internal procedures were overridden, sometimes systematically." In other parts of the report, he talks about errors of judgment in bank management, major lapses in the documentation of loans, weak risk management, and the failure of corporate checks and balances. If something was systematic and internal procedures were overridden, that means people knew what they were doing. Is that a fair observation? In some cases, that is what was happening. People absolutely knew what they were doing.