Results 23,301-23,320 of 35,959 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: There was a-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Mr. ... Mr. Gerry McGinn, who became your successor, talked about the shoddy and well-below-standard practice in relation to what went on in Nationwide. He talked about it as an "outrage" but he also carried out a review into what was called "celebrity loans". He said that there was nothing untoward in relation to them because the ... powers had been devolved by the board to you which could...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: So, when Mr. McGinn talks about ... Mr. McGinn talks about the reduced interest rates and so on and exceptional rates, this is-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Can I finally say or ask you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Okay, Mr. Fingleton, can I ask you finally, you've made the claim that Nationwide was solvent on the night of the guarantee but is it not the case-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Well-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Well, it actually has ... sorry, with respect, it has been disputed-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: -----in this ... in evidence to this committee.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: By their claims - and at the minute their claims - in defining the facts also-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: The question is, is it not the case that you were steering or the institution ... maybe not you, personally, but the institution was on a collision course with ... with a financial iceberg? It was going to happen anyway. You had €4.5 billion on euro medium-term notes due to mature between December 2008 and November 2009. Unless the crisis disappeared, it would be very challenging,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: No, they didn't. With respect, Mr. Fingleton, they did not have nationalisation legislation for AIB, Bank of Ireland or, indeed-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: The point I'm making is that in relation to Nationwide ... in relation to Nationwide-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Nationwide was the first area that was identified as a crisis. This is where the legislation originated and it was amended then for banks.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Is it not the point ... going back to the core issue, is it not the point, given the funding difficulties that you had which you discussed at board minutes - and we have the minutes - about how you were going to try and refinance or repay that €4.5 billion ... given the fact that you were shut out of the markets at that point in time, that it was a ... an accepted ... that this was...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Mr. Fingleton, you did not have enough liquidity to cover what was maturing in the following 11 months.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Well, can I just put on the record this here? The minutes of the meeting actually does not suggest that the liquidity available to the bank would actually cover this. It actually talks about retail deposits wanting to be increased by-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: The minutes of the board of directors of Nationwide on 10 March 2008 deals with this issue, the fact that there was €4.5 billion going to mature. At this point, you're shut out of the markets. It talks about the society continuing to market and promote through its branches and trying to raise €1.4 billion. It talks about trying to squeeze €600 million out of the Isle...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: That's not the question. We're not disputing in terms of a theoretical moment in time-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: The point is is that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Go raibh maith agat and fáilte chuig an coiste. Can I ask you, in relation to KPMG's corporate governance review in 2008, it states: Board packs are very detailed and at times lack clarity and structure. For example, there is little market and operational overview and salient financial commentary provided. Were you satisfied that ... as a board member and as chair of INBS, that you...