Oireachtas Joint and Select Committees
Wednesday, 25 February 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Professor Gregory Connor:
What I mean by that is that there were bankers who knew, as they were being called into meetings and telephoned prior to the liability guarantee, that the banking system was, in aggregate, insolvent. Some of the bankers in senior positions also knew that their bank, in particular, was insolvent but they were not saying "We are insolvent; it is not a liquidity problem".