Results 4,641-4,660 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Marc MacSharry: Can I ask just in the context of external influences on Cabinet, there's been some evidence from the chief economist in the Central Bank, for example, who was alleging political and property interest that were impeding upon his ability to get his message across within the Central Bank? In your experience, Mr. Gormley, was there any external influence of a property or political nature which...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Marc MacSharry: Yes, okay. Just very quickly. Ms Harney, you mentioned that there was a lot of pressures to sped the national reserve fund. Where were those pressures from?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Marc MacSharry: No, but in your statement, did you not say that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Marc MacSharry: Okay, maybe there's a misprint. I'll move on. Just ... in the context there, just to finish, you were describing how you were discussing with Mr. McWilliams and I think you mentioned you were finding out from Mr. McWilliams what Mr. Lenihan was saying. Ms Harney, you mentioned that you don't remember a discussion about that, there was general discussions at Cabinet about the international...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Marc MacSharry: Yes. No, I did say that, yes ... that you were passengers to this issue or I mean ... is that the practice - that you depended on third parties like David McWilliams to find out what were going on in-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Marc MacSharry: -----in other areas or ... what way does that work?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Thanks, Chairman, and welcome, Mr. Fingleton, and thanks very much for the time. This question may have been somewhat covered already by some colleagues but during the period 2003-2006 with commercial lending being the driver for the reasons that you outlined earlier on, the society trebled its book from about €3.5 billion to just under €11 billion. Considering the risk...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: So you're happy that you did have the capacity; it was prudent at the time-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Did the demutualisation-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Sorry, go on.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Yes, okay. Around the same time in the early 90s, Irish Permanent, then building society, demutualised and made changes and so on and they had very much laid the foundations for their ultimate flotation. Did this add pressures to your own outlook from a corporate perspective to say, "Look, this is where the society needs to go or should ... or ought to be going"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: So the core business of home loans, is it fair to say or not that there was an abandonment of core business in favour of growth using the commercial market that was out there, as you said, because of a deficit in the 1980s for housing?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Did-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Did-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: But surely you would have had commercial loan targets as well?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay, so-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: You mentioned Bank of Scotland coming in. When they did, and you said your book was attacked and they were very much pursuing your business, did that lead to a looser underwriting strategy-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: -----or policy in the society?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Some months ago at this stage we had the various auditing firms in as witnesses and in questioning I had asked one - I had asked them all in fact - had they ever had a company firm that they were auditing ask them to remove an auditor or a person from the audit team for overzealous or invasiveness or ... and so on. One particular firm admitted that that happened on three occasions and in one...