Results 7,221-7,240 of 7,975 for speaker:Joe Higgins
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: Mr. Cowen, why were speculators and developers allowed to profiteer incredibly by any standards, in land, for example, in land dealings which caused massive increases in the price of a home for an ordinary person? Did you take any significant measures to stop that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: Yes, Mr. Cowen-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: I'm only asking you questions.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: Mr. Cowen, I'd like to deal a little bit with the relationships - it's one line of inquiry for this committee - between the Oireachtas and the banking and property sectors. You say in your opening written statement, it's at point 39: It has been alleged that no action was taken by our Government to deal with these risks [let's leave that]. This seems to be based on the view in some...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: -----over the years-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: How could such a close relationship not impact on the moves that your Government would or would not take-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: Yes. An ordinary person would feel that this would certainly impact on policy, this close relationship. Is that the case?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: Yes, well, the question people would ask, Mr. Cowen, is why so many of the major developers, many of whom finished up in NAMA, were patronising and funding the major party in government for a considerable period of time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: I'll just finish the question-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: Mr. Cowen, the people that were funding your party, some of the people that were funding your party, were people who-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: -----who were heavily involved in serious land speculation in the course of the bubble, drove the price of a home for an ordinary person up massively, for example, and other downside effects. Now can I ask you Mr. Cowen, do you expect the ordinary people out there who have-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: No, do-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: No, Mr. Cowen has replied to my question. Just a final-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: Just a final question-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: I'll just leave it at that, Chair and when I wrap up, I have some further regulation questions.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: Yes, I just want to deal with one question, Mr. Cowen, because of time, and it relates to, again, the question of resources in the financial regulation area in your time. Now, you said in point 27 of your written statement "The Central Bank and the Financial Regulator's office had significant resources in dealing with the supervision and regulation of the lending institutions." If I could...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: So you were not aware of the concerns-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: Would you say on the face of her evidence that resources were over-stretched?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: And are you surprised now that this wasn't brought to your attention by the regulator?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Joe Higgins: Mr. Cowen, you state that throughout your time as Minister for Finance very few questions were asked by Members of the Oireachtas about banking issues and during the time under consideration, of course, bank lending was growing very rapidly - perhaps 30% per annum - house prices were careering ahead and personal borrowing was also rising rapidly. In your opinion, why was there so little...