Oireachtas Joint and Select Committees

Wednesday, 4 March 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Dr. Peter Bacon:

There were two approaches. Through a mutual acquaintance he asked if I would meet him for a chat about the situation. I think that was in November or December 2008. I met him in Government Buildings; he was present with a second secretary. The meeting happened. The meeting ended. I walked away scratching my head and I got a phone call in late January inviting me to have another chat. It was a chat about: "You know, look, the situation is deteriorating; I am canvassing views about what ought to be done, what needs to be done, what the options are." I met him again and I felt that it was a similar discussion to the previous one but he did at the end of it say to me: "You seem to have developed your thoughts significantly more than the last time we spoke. Would you do some work? Would you commit these thoughts to paper and carry out some work?" That was what happened.