Results 3,521-3,540 of 4,168 for speaker:Susan O'Keeffe

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: -----there's one thing I just can't get to the bottom of here though, in fairness. It's one last question. In the documents we have seen, clearly it was known earlier on before the ... you know, before the ... before October, it was known in the Department of Finance that the money had been used, it was Quinn Insurance money that had been used to unwind the contracts for difference.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: Is that your ... that's your understanding?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: It says-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: It says at the end that the Financial Regulator was not aware that that money had been used.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: Mr. Dunne?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: Okay-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: No, I don't want you guessing either. Thanks, Chair, thanks for your indulgence.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: Thanks, Chair. Mr. Mulryan, if I can just go back a moment to the joint venture arrangement you had with INBS, was that vehicle called Clearstorm-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: -----or were there several vehicles?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: Okay. And would-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: What ... how does it change the relationship between someone like you and a financial institution if, instead of their lending to you for your project over there, they're actually right ... part of the project and have a share in the profit? How does that change the relationship, do you think, if, indeed, it does?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: How ... when that relationship started, had that been your experience up until then that financial institutions were in a position to be in joint ventures, if you like, or were they very much more the other model of, "Here's the money and come back when you can pay it back."?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: Could it be argued that the financial institutions become speculators of a kind, do you think?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: Is that what financial institutions ... is that what we understand them to do, to take risks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: If you look at what we're doing here ... is discussing the banking crisis and the financial crisis and it wasn't just here it was in other countries, do you think its at all the case that those banking institutions, financial institutions, that came into that risk arena have contributed, along with yourselves, to the banking crisis that we found ourselves in?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: Quite.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: And that's what happened?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: In the ... you listed there 11 banks with whom you did business - or 11 financial institutions - of which INBS was one. Would you have had similar joint ventures with all or some of the others-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Susan O'Keeffe: -----or was it just them?