Oireachtas Joint and Select Committees
Wednesday, 11 February 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Kieran O'Donnell (Limerick City, Fine Gael)
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Based on Professor FitzGerald's mistake, what was the fundamental issue in a situation where property prices were falling, there was the whole issue of the sub-prime market in the US and those funds were flowing into Irish banks as well? What was the basis for his decision, given he now honestly admits he made a mistake in the 2008 medium-term report?