Results 621-640 of 4,414 for speaker:Sean Barrett
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: Well, sometimes you tax activities which are felt to have social costs rather than benefits. Did you have any relationships with the NCB Stockbrokers - the robust discussions? Did you have some with them?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: It is reported that senior executive in Anglo sought to have a stockbroker sacked because he didn't like the views of Anglo that that stockbroker was publishing.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: Right. Did you have a similar robust conversation with Irish Life and Permanent, Mr. McCarthy, at any stage?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: Okay. Thank you very much.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: Thank you. No, just ... thank, you, Chairman. Well, the NTMA, we've had in evidence, formed a different view. How did you respond when you knew that the NTMA would not put money on deposit in Anglo anymore? They obviously felt the nation's pensions, etc,. were at risk.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: Thank you, Chairman, and welcome to Mr. Went. The ... PTSB were very active in the residential investment property market, called RIP in the era - and I think it may be a good Freudian slip. And, in terms of annual growth in this market, with a relaxing of terms and conditions, was the level of risk associated with this growth fully understood?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: But the results seem to indicate, as you were describing to Deputy Murphy, that in loan-to-deposits, loans-to-value and sectoral concentration, major policy decisions were made which ended in tears. You went the wrong way in all three of those.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: That ... when you were describing to Deputy Murphy, you know, what was happening in terms of loans-to-deposits, loans-to-value and sectoral concentration, we were moving ... I would put the proposition - for "Yes" or "No" – we moved in the wrong direction, I'll put it to you, in relation to all of those and that’s why this committee is here ... this inquiry is here.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: But on page 63 in the volume, January 2006 ... reporting on December, says it was up 93% on the previous December and then you go to page 89, November 2005, approvals 119% up. Now was that not bound to end? That was a bubble really - I’ll put that proposition to you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: You said in your speech in October 2004 to the Institute of Bankers that Mr. Gordon circulated from Permanent TSB that:Mr. Went [said] that he was increasingly concerned at the level of criticism being made about the banking sector in Ireland. He said, "My concern is that after a period of pretty relentless criticism, we’re coming closer to a tipping point where the cumulative effect...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: I can give it to you if you want to remember it. I mean, wasn’t that ... something happened in Irish banking ... look to the wider one, and from your experience in Ulster Bank it was a ... you know, a conservative pillar of society and people like Colm McCarthy have raised this point and perhaps you might assist us. What happened to Irish banking? It was conservative, it lent...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: Yes. And we can’t find a jury, in the opinion of the Judiciary, which will give a banker a fair trial. Why is ... why has Irish banking, you know, incurred the €64 billion and why has it fallen so much? What might you have done, from your experience in Ulster Bank, to ... to bring it to the situation where we didn’t have these bubbles and crises?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: I am trying to get at that ... that banking is ... its changes in policies have brought this country to an impasse where we had to go to the IMF.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: You said in that speech that you referred to, "There can be no place in banking or financial services for people with low standards of ethics."
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: Were you concerned at that time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: Well, I mean, what would you ... do you think we should go back to the first way then, to have solvent banks which would have a standing-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: -----in society compared to what's happening now.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: Why do you think auditors missed so much in auditing Irish banks?