Results 6,841-6,860 of 7,975 for speaker:Joe Higgins

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: But Ms O'Dea what puzzles me is this: I mean, this was the subject of massive publicity, conversation and controversy, just the simple price of a home for an ordinary person, we are not talking about people buying to let or landlords or speculators or whatsoever. And the fact that the regulatory system didn't go into a mode of alarm and opposition to this and try and stop it, why did that...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: Ms O'Dea, with respect-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: -----young people needed homes, starting families etc. They were put into a position of blackmail by common consent, that's not a leading question-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: It isn't a leading question. If you wanted a home, the people who had the homes sold them to you at this ... at these incredible conditions and prices, etc.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: Leave the soft landing out of it, just what was happening and what was going to happen to young people, did that not set alarm bells ringing?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: Could I refer to Vol. 1, page 21, please, of the evidence?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: Okay. It'll come up on the screen there, Mr. Roux.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: And I refer to the last paragraph.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: It states: [The International Monetary Fund] Report on the Observance of Standards and Codes Review was discussed [and] It was anticipated that Ireland would be deemed materially non-compliant in four areas i.e. independence, accountability and resourcing; supervisory techniques and tools; transactions with related parties; and abuse of financial services. That was in 2013, only it was...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: You mean removed by the Government is it-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: -----from your position?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: Has that been changed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: And then abuse of financial services.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: Mr. Roux, do the financial ... the financial regulation divisions within the Central Bank currently at the moment, are you confident that there is a good knowledge and understanding of what is currently required for effective and stringent regulation? Have ... has the bank learned considerably from the disaster that happened, the crash, the bubble etc.?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: Finally, you said that even huge fines apparently are not a deterrent from major international banks from misbehaving badly. Do you think it is feasible that private institutions should have massive powers over the lives of hundreds of millions of people? Would public ownership and democratic control of these major institutions be a much more viable way for society?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: Mr. O'Connell, how many staff had you in your economic section of the Central Bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: Fifty or 60. During the bubble period, you had that number?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Joe Higgins: And, did you have ... did the staff meet regularly or ... in relation to the issues of the day?