Results 1,181-1,200 of 7,975 for speaker:Joe Higgins

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: But, may I say ... may I ask you, Mr. Neary, wasn't the information you had also just dependent on the banks without having gone in and really examined it independently?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: And then, Mr. Neary, considering that only two years later some of these banks had massive haircuts - up to 57% in the face value of the loan book - would a reasonable person be right in thinking, perhaps, that the information in September 2008 from the banks was less than frank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: Yes, but would you agree, Mr. Neary, that it's less than satisfactory - or is it satisfactory to your point of view - that there was not a verification process to get behind the figures?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: Mr. Neary, after the week of the bank guarantee, which manifestly came about as a result of massive failings in the leadership and the management of all the main banks, did you, as regulator, advocate an immediate sacking or resignation of leading executives and a change of leadership in the banks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: Why not?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: But, by any standards, Mr. Neary, is it not the case that two institutions were basket cases and that was quite well known to you and to other major banks who complained vehemently about them? Why was the leadership allowed to continue in Anglo and INBS in particular?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: Did you feel under political pressure, Mr. Neary, not to insist on changes at the top of the bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: Can I go quickly to a document that's not in your core documents, Mr. Neary, but it was in Mr. Grimes's and it is going to come up here in front of you in a minute. This is a minute of a meeting on 25 September 2008. A very high-level meeting in which the Taoiseach, the Minister for Finance, the Attorney General, yourself and the acting Governor of the Central Bank and the Governor, I...

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: Okay. The attendances, in the bottom half-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: Okay?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: Very high level meeting.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: Do you remember this meeting?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: It's a minute, Mr. Neary.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: If I take you to the one, two, three, the fourth paragraph from the top, "There was a discussion of various forms of State interventions." Do you remember that? Or can you see it, rather?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: Yes. "The FR [Financial Regulator] (Pat Neary) said that there is no evidence to suggest Anglo is insolvent on a going concern basis"-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: -----etc. Now the next paragraph:D [David] Doyle noted that Government would need a good idea of the potential loss exposures within Anglo and INBS - on some assumptions INBS could be 2bn [€2 billion] after capital and Anglo could be 8.5 [€8.5 billion]. What did you take that reference of Mr. Doyle to refer to? Did you take it to refer to, as some have, that, when capital...

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: Well, what does that minute mean?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Joe Higgins: But-----