Results 3,301-3,320 of 6,295 for speaker:Michael D'Arcy

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: Were you aware of Professor Morgan Kelly's interview on "Prime Time" immediately after the ... I think it was within ... I think it was 30 September, in relation to ... his theory was that the asset values were so poor that the guarantee was a mistake? Did you see that interview on "Prime Time" with Professor Morgan Kelly?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: Are you aware of it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: His assertion was that the liquidity wasn't available through Irish banks because of the quality of their loan book.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: And do you think that's a fair comment?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: And, which caused which? Was the liquidity crisis caused due to the standard of the loan book or was it, as you say, the crisis came after the guarantee?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: Sorry, Mr. Fitzgerald, but the question I asked you was which caused the bank to crash. Was it ... the theory that Professor Morgan Kelly put forward was that the standard of the loan book was so poor that that caused the liquidity crisis within Anglo and other Irish banks.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: I'm not asking you what was evident. I'm asking you which caused it, in your opinion.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: Not the standard of the loan book, as put forward by Professor Kelly?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: But which was correct? I'm not talking about the months prior to the guarantee, what was evidenced. Which was the case, with hindsight, Mr. Fitzgerald?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: The standard of the loan book?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: Mr. Fitzgerald, Project Atlas - conducted by PwC - I think some of it had started prior to the guarantee and subsequently concluded the field work prior to Christmas 2008. The report was presented to the Minister in early 2009, the Minister for Finance, Mr. Lenihan. I think it was February 2009 it was presented. Were you aware of that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: You had no involvement. In terms of the The New York Timesheadline in 2010 ... you were still with Anglo Irish Bank at that stage?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: The headline that, "[Could] one bank bring down a country?" Did you think that was a fair headline?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: It was a bit more than that; it was the equivalent of half of the national debt-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: -----at that stage. The NAMA figures subsequently ... that were transferred - with a discount of almost 60%, I think it was 59% - were you surprised at the level of discount?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: His name is Fitzgerald.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: Fitzpatrick.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: Mr. Fitzgerald, what was your salary and bonuses at the peak during the boom?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: Mr. Fitzgerald, in terms of your role in retail and non-retail deposits, can I ask in terms of anti-money laundering legislation, was that high on your list of issues to be dealt with and did you have any interaction with the Financial Regulator in that matter?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: And Mr. Fitzgerald, to finish, did you read the Simon Carswell book?