Results 4,041-4,060 of 7,082 for speaker:John Paul Phelan

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: I understand that but, I suppose, the point I'm getting at is in the interests of accountability was there not an opportunity then for the Government ... maybe not you directly, but the Minister for Finance, acting in consort with yourself, to say, you know, these people whose advice we relied upon in the case of the regulator and the Central Bank, they've made errors, they've missed certain...

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: Did you see the evidence of Mr. Cardiff in ... where he referred to concerns that Minister Lenihan had about Cabinet confidentiality? And, if you did, what did you make of it or what ... were you aware of those concerns yourself at the time? I want to put the direct quote from Mr. Cardiff's witness statement to you. He said: During his time as Minister for Finance he was concerned that...

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: Did you-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: Did you have any such specific concerns yourself-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: -----about members of the Cabinet?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: Do you believe that the members of the Cabinet at the time did all act in accordance to what you've just said?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: Okay. Can I ask you now in relation to the decision of the Government to appoint Peter Bacon to recommend options for property and developers' loans in that crisis period before the establishment of NAMA? I remember questioning him about it myself when he gave evidence, when I asked him was he procured under the normal procurement process that would apply to such appointments. He said that...

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: I'm not really asking you question his professional integrity, but I'm saying was it-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: A potential for a perception of conflict of interest.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: We have to deal with perception.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Thank you, Chairman. Good afternoon, Mr. Quinlan. I just want to ask you, actually, at first, you made reference earlier on to sub-prime and you said it didn't exist in Ireland. It was a very marginal thing in Ireland but, I mean, there was some sub-prime lending into commercial ... residential property, in particular, in the Irish economy. A number of institutions with a loan value of...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: In an interview that you gave to theFinancial Timesin 2005, you stated, ''I am able to explain to people as to why you should do this or that.'' Basically, I suppose what I am asking is how can you explain deals to clients as you outlined in that interview if you don't have more than just a high-level overview of how those deals were being financed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: As a former tax adviser and inspector with the Revenue Commissioners, do you have a view as to how different Governments used tax reliefs during the boom period and in the lead-up to the boom?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: You said that you hadn't lobbied politicians on the issue.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Had you ever spoken to any people from the Department of Finance or indeed any other civil servants?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Okay, in August 2008, you wrote in The Irish Timesthat people must remain confident in Ireland-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: -----and to quote you directly you said, ''The bears see no way out for Ireland. I do.'' Why then, did you leave Ireland the following year?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Can I ask then, in relation to ... you have referred to it a couple of times in your earlier answers, the feel-good factor that existed in Ireland around the time of the boom. At what juncture, if at all, did you realise that there was a bubble emerging in commercial property in your case, in the Irish economy?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: In hindsight, do you believe that the feel-good factor that you referred to was, well it might have been real at the time but you know, was it a mirage? Was it something that was built on something that was unsustainable?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: I'm talking about your own view.