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

Susan O'Keeffe: And then ... and so ... at that point did that change your view of what you were doing in Ireland?

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

Susan O'Keeffe: Did you ever share those thoughts about the overheating market ... if you like, the people now getting into property that perhaps shouldn't, did you ever share that indeed with any of your colleagues, friends or, indeed, with any of the politicians that we've discussed?

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

Susan O'Keeffe: Right, and did you ever get a response to that?

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

Susan O'Keeffe: You were as described as the kind of person who likes to go through the snag list and, again, I'm quoting so it may be ... is that a reasonable thing to say?

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

Susan O'Keeffe: You were described as the kind of person who himself likes to go through the snag list.

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

Susan O'Keeffe: No. But I think that point that this article was making was that you're a careful man, I think was the point they were making. That you like to pay attention to detail. The reason I was asking was I just wondered how if in the end, if that were the case, how did it come to pass that you ended with so much debt? If, or was it that-----

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

Susan O'Keeffe: And if you were to define the key difference, because I'm sure that, I mean, might take quite a long time, but is there a key difference that you would do differently the next time?

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

Susan O'Keeffe: What was Peter Bacon's role in Ballymore?

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

Susan O'Keeffe: Deputy McGrath asked you whether you thought that you were a victim of what had happened and you said you thought that you were. Do you understand why people, members of the public, might not share that view and might say otherwise, might say that you contributed, along with others, to the state that we find ourselves in and that ... and that ... if you like, you are I trust still doing...

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

Susan O'Keeffe: But do you believe you made any contribution to the crisis that we have come through?

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

Susan O'Keeffe: But the paying back of the debt takes a period of time, where, you know ... beyond, whereas the broader members of the public found themselves out of work, you know, and all the other dilemmas that we've seen, people emigrating and so on. For them that was an immediate outcome and they would say, well for you, that wasn't the case - you didn't ... you didn't lose your job, lose your home,...

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

Susan O'Keeffe: Finally, if I just might ask you one question that ... it was actually mentioned in one of the books, Breakfast with Anglo, which you may or may not have seen, and in it he just mentions - Simon Kelly - he just talks about, I suspect you didn't do this because you've said ... that ... people ... some people separated-----

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

Susan O'Keeffe: I'm sorry.

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

Susan O'Keeffe: Sorry, and if you don't know it's fine-----

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

Susan O'Keeffe: Absolutely, it's a practice rather than a ... it's the idea of separating the property asset from the tax allowance and selling it on. But I suspect that, because of what you said before, you didn't do that much business in that area?

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

Susan O'Keeffe: No, so thank you. That's fine. Thank you.

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

Susan O'Keeffe: Yes, thanks. I just have four questions, very briefly. Thank you, Mr. Mulryan. Mr. Bacon, we know is involved in the establishment of NAMA, and I'm not wishing to discuss NAMA, but did you have any opportunity to talk to Mr. Bacon about how NAMA might look or how an organisation like that might be set up?

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

Susan O'Keeffe: Okay. Were you paid a salary by NAMA while you were-----

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

Susan O'Keeffe: Sorry, I didn't realise. David Brophy was one of your directors, isn't he? Or one of your-----

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

Susan O'Keeffe: Yes. He was also a director of INBS, isn't that the case?

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