Results 3,321-3,340 of 4,168 for speaker:Susan O'Keeffe
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Susan O'Keeffe: No. Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: Thank you, Chair. Mr. Corrigan, on page 9 of your own statement you say that this crisis was domestically generated. What leads you to say that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: When the NTMA adopted the safe harbouring policy that Mr. McDonagh told us about in August 2007, in other words not putting deposits in Irish banks, what signal do you believe that could or should have sent out to the Central Bank, to the Department of Finance, to anybody?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: And at the time that you made that decision did anybody approach you to discuss your decision to do that? Was there any concern shown by any parties to your policy or did business just carry on as normal?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: Was it the first time that the NTMA had made that kind of decision in relation to putting deposits in the Irish banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: So it was ... it would have been ... was it a decision that was arrived at lightly or with serious consideration?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: When Mr. McDonagh was here last week, and I'm moving forward a whole year, to the time of the guarantee, and he talked about the view that the NTMA had about nationalisation versus the guarantee, and he said there was a strong view on the part of the NTMA. So obviously, you're here with us today so perhaps if you could tell us what your view was about the approach of nationalisation and on...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: Was it not based on a business case because ... because you couldn't or didn't have time or because you didn't bother?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: And can you elaborate on what that challenge meant, in terms of how you operated then?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: Before I, I'll come back to that if I may, but I ... I just want to pursue the matter of nationalisation if I may, because in your statement on page 3, you've moved on now to Saturday, 13 December 2008. And you say that you and Mr. McDonagh had a meeting with the Department of Finance on that day. Before I ask you about what happened at the meeting, I'm just wondering why did it take place...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: Okay, that's fine. You say that you pressed strongly, with the Department, for nationalisation of Anglo Irish Bank. So, again, what was the analysis ... at this point, at this time ... and why ultimately was your pressure resisted? Why did the Government decide instead to recapitalise?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: So let me be clear, the chair was saying to you, you couldn't express a view because you were the agent of the Minister but you were not deterred by this, you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: Yes, I'm sure. And so anyway, you put your view forward, which was nationalise; and again here you were two months later, talking about nationalising, again what was your view, what was your reasoning, what was the basis for you at this point, pressing again for nationalisation?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: Now you, you recall that that meeting on the Saturday was a large meeting, there were a lot of people there-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: Were you the only people saying nationalise, or were others saying nationalise, or do you remember?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: The official statement that was put out by Government on 21 December, and it's in Vol. 1, page 45, of Mr. Corrigan's own book. It'll come up before you, Mr. Corrigan, and, basically, it said, "The Government will continue to reinforce the position of Anglo Irish Bank and will make further capital available if required so that it remains a sound and viable institution." What was your view of...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: When, Mr. Corrigan, did you yourself come to the view that it was a broken model or a flawed model?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: Mr. Corrigan, when you heard about the blanket guarantee for all the banks - I appreciate you were not in the country at the time; you were in the States I believe - what was your response? What went through your head?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: So in the conversations the previous week, I assume that was with officials from Central Bank, the regulator, the Department of Finance, if you like, the usual people that you'd been talking with. Was the conversation at that point centred on all options or had it centred on a particular option, do you remember?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Susan O'Keeffe: Did you have a view on whether Anglo and INBS were solvent on the night, I mean, solvent at that time? I know you weren't there, but did you have a view on their solvency in those days, I suppose, leading up to that moment, given the conversations you'd had and the knowledge you had?