Results 23,241-23,260 of 35,959 for speaker:Pearse Doherty

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: But you don't regret that decision, as you've told us-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: Okay, so you do regret-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: Okay, we'll come back to the commercial property. Is there any other decisions, bar allowing your commercial property exposure to increase to significant levels, that you regret?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: Okay. Mr. Fingleton, you were in charge of Irish Nationwide Building Society for 38 years. During that period, the bank made a series of business decisions that led to it eventually going bust and to be bailed out by billions of euro of taxpayer's money. In the annual accounts of Irish Nationwide Building Society, it was reported that a pension fund of €27.6 million had been set up...

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: Was there a bonus culture in Irish Nationwide?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: No.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: So there was no bonuses paid in-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: Is your view today, with hindsight, in relation to the bonuses that were paid out, as you mentioned, to individuals and the large pension pots that were set aside in the annual accounts that we've referred to - your own one that had a value of €27.6 million - is your view ... what is your view? Is your view that people were entitled to those bonuses and pensions funds even though...

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: If you go to the core booklets on Vol. 1, page 43 and 44, in a letter dated in February 2008, it regards the inspection of commercial property lending exposures-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: Page 43 and 44 of Vol. 1, and I will quote it anyway-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: It won't.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: I will quote. It says the Financial Regulator "calls into question the adequacy [and] controls and risk management in place in INBS for large commercial property loans and suggest[s] that a significant degree of approval authority rests with a single individual, Mr. Fingleton, who also appears to be the only source of information on some of these large clients". What is your views of the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: Why do you not agree with it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: What part of it is not true?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: All of it is not true.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: Okay, and the "significant degree of approval authority rests with a single individual", you'd ... do you disagree?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: Nonsense?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: Did you challenge the Financial Regulator in relation to his ... to this-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Pearse Doherty: Okay. Why would the Financial Regulator say to the chairperson of INBS that a "significant degree of approval authority" lay with yourself?