Oireachtas Joint and Select Committees

Wednesday, 6 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Sean BarrettSean Barrett (Independent)
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Because, by 22 November 2004, the risk policy committee minutes says, "the book is relatively unseasoned and untested" ... "50% of [that] book is less than 12 months old". So that was a speculative era in property to a dangerous degree, I suppose, compared to what the bank had to correct later on.