Results 1,961-1,980 of 4,414 for speaker:Sean Barrett

Seanad: Order of Business (10 Mar 2015)

Sean Barrett: I welcome the statement of Mr. David Begg that he does not support the sale of Aer Lingus. I invite other current or recent directors of Aer Lingus to follow his good example. I served with him on the National Economic and Social Council and he always puts the national interest first. I have asked the Competition and Consumer Protection Commission to examine the anti-competitive aspect of...

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Sean Barrett: I welcome Mr. Carswell and echo what Senator D'Arcy said about the book. Did Mr. Carswell cover the McDonough report on financial regulation and the hostile reaction to it by the Central Bank?

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Sean Barrett: Might that have led to some of the problems that Mr. Carswell has been describing to Senator D'Arcy?

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Sean Barrett: By elimination, there should have been greater focus in the prudential area.

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Sean Barrett: During Mr. Carswell's discussion with Senator D'Arcy about the paragraph on commercial mortgages he referred to the compliance statements for the directors having been dropped by the Financial Regulator in 2006. I refer in this regard to page 5 of the statement. Perhaps Mr. Carswell would elaborate on what was involved in that regard? What were the compliance statements and what impact...

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Sean Barrett: Were copies of those rules ever published or was the opposition behind the scenes?

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Sean Barrett: Mention is made on page 123 of the book of a strong letter from the Governor of the Central Bank arising from the article by John McManus in The Irish Timesstating that Anglo might be in trouble on funding. Anglo rebutted that so strongly the Governor responded saying that the bank could do without that type of reporting at a time of growing crisis in world banking. Was that type of...

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Sean Barrett: Does that negative so-called light-touch regulation? It is more hands-on, is it not?

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Sean Barrett: In his work on the book and articles did Mr. Carswell come across what Morgan Kelly called "contrarians" in the Central Bank, other banks or the audit profession?

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Sean Barrett: So they were people in the banks who knew that 2008-10 was on the way, so to speak?

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Sean Barrett: It is stated on page 217 that on 29 September 2008 the chairman of AIB held the view that Anglo and Irish Nationwide were two delinquents and needed to be taken out by the State. Does that indicate that the view was that some banks could still be saved and that not all needed to be guaranteed?

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Sean Barrett: Based on Mr. Carswell's experience, what sort of rules should we have been implementing? The committee will be suggesting measures to prevent a recurrence of this. What rules would Mr. Carswell suggest we should put in place?

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Sean Barrett: Did we understand the implications of joining the euro and the free movement of capital at the beginning of that decade?

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Sean Barrett: Mr. Carswell wrote on page 129 in the book that directors of the bank borrowed €41 million from Anglo Irish Bank. Is there a number the committee should look at? What is a prudent amount to allow directors to borrow from a bank?

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Sean Barrett: I thank Mr. Carswell. Hypothetically, if we improve regulation, do we run the risk that one of our American experts presented to us of an AIG, a body that is not regulated but has so many connections with the bodies that one is trying to regulate and save that AIG must be included as well? Arising from that, is it possible to have a utility bank that would just look after people's savings...

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Sean Barrett: Shadow banks will say they are too big to fail as well, so the State again gets caught on the hook.

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Sean Barrett: I thank Mr. Carswell.

Seanad: Order of Business (5 Mar 2015)

Sean Barrett: I raised the issue of requirements in subjects to enter universities two days ago and I have some updates on those. There are proposals to remove mathematics and languages as entry requirements, and my correspondence indicates these are gathering pace. Discussions are taking place in the University of Limerick and in UCC this week. It is reported that UCD is totally in favour of the...

Seanad: Order of Business (5 Mar 2015)

Sean Barrett: Both are excellent. The Labour Party took a stand against the British Airways IAG takeover of Aer Lingus. Its members are looking after the interests of the workers. We in this House have an interest in the development of this country. Aer Lingus, in generating 11 million passengers for a population of 4 million people, is doing four times better than British Airways in generating 38...

Seanad: Order of Business (5 Mar 2015)

Sean Barrett: Hear, hear.