Results 4,201-4,220 of 7,082 for speaker:John Paul Phelan

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

John Paul Phelan: Okay. Well, can I then just maybe turn to the issue of groupthink, which was mentioned in several of the reports that have been referenced already. I'm being Devil's advocate slightly, Chairman - I'm sure that you'll correct me if I'm wrong - but for those who might look from the outside at your evidence today, you were two key players at different times in the social partnership process....

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

John Paul Phelan: Mr. Begg, do you?

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

John Paul Phelan: Okay, well, that is fair enough. Can I ask you then in respect to your roles on the different boards that we're referring to here, that you were members of, do either of you have ... feel any sense of either collective or individual responsibility for the, what could be termed at least, abject failure in regulation that took place in the banking sector? And not just in terms of the...

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

John Paul Phelan: Mr. Begg?

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

John Paul Phelan: Can I ask you directly Mr. Begg: did the board, the Central Bank board, in your 15 years - particularly I suppose from the period 2002 onwards - have detailed discussions about the expansion in property lending, in particular, the expansion in the loan books of financial institutions?

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

John Paul Phelan: Okay, just to turn to Mr. Dunne briefly, you said that you were aware of the fact that there were three people within the regulator who were responsible for, I think, it was Bank of Ireland and Anglo, and three more responsible for AIB and Irish Nationwide in terms of direct regulation. You've already stated that you don't like the term "light-touch regulation". How else would you describe...

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

John Paul Phelan: He is asking me to wrap up.

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

John Paul Phelan: You think that three people regulating those groups of two major financial institutions with huge expansions in their loan books in the period that you were on the board of a regulator, you'd think that that doesn't fit the term "light-touch regulation"?

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

John Paul Phelan: Okay-----

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

John Paul Phelan: Can I ask the-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

John Paul Phelan: Thank you, Chairman. Good morning, gentlemen. I've only six minutes so I would ask you to be as brief as possible in your answers. Continuing on from Deputy Doherty's question earlier Taoiseach, in relation to the Sunday Independentarticle from 21 July 2013, I want to put a quote from it to you: In one email, dated November 19, 2008, Mr Moran tells his boss, Mr Drumm, that "Enda" told...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

John Paul Phelan: The quote is: In one email, dated November 19, 2008, Mr Moran tells his boss, Mr Drumm, that "Enda" told him that the State was considering telling Bank of Ireland to take over Anglo to prevent it from collapsing. Do you recall having that discussion with Mr. Moran?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

John Paul Phelan: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

John Paul Phelan: Okay and I want to reference that meeting as well. You told the Dáil on 25 June 2013 and I want to quote you directly. You said: I had the doubtful privilege of calling into Anglo Irish Bank with Deputy Bruton, when he was the party's spokesman on finance, a couple of weeks after the guarantee went through. We met all of the principals in the bank's building on St. Stephen's Green....

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

John Paul Phelan: Okay. What was the nature of the meeting? Like, was it ... you say that you had sought the meeting itself. Did you feel that you were getting the full picture, I suppose, from Anglo? This is a couple of weeks to-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

John Paul Phelan: Do you feel with hindsight that the meeting should have taken place or-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

John Paul Phelan: Can I ask you - and I only have two and a half minutes left - when were you first informed of the Government decision of 29 September 2008 in relation to the blanket guarantee that was entered into? And who did you have that discussion with?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

John Paul Phelan: And was the conversation with Minister Bruton prior to the conversation with yourself?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

John Paul Phelan: Okay and that was seven o'clock in the morning of the 30th, on the following morning?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

John Paul Phelan: Minister Bruton, can you-----