Results 7,301-7,320 of 7,975 for speaker:Joe Higgins
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: In ... do you agree that there was a bubble? Would you call it a property bubble that existed in the 2000s?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: Okay. Mr. Quinlan, in evidence to this inquiry, a US regulator and financial prosecutor, Professor Bill Black, you may have heard of him; perhaps you didn't?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: He spoke about the dangers which he claimed were ... should have been well recognised of too fast a growth and I'll just quote, it's page 1 and 2 of his written ... or, sorry, his oral testimony, but you don't need to read it because I'll read a paragraph or two.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: It will, yes, but I think it's easily absorbed, the idea that he is putting here. So, to quote, he said: Here is the recipe which leads to something distinctive. It is a recipe that the institutions [he's speaking about financial institutions] follow-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: It's in the very first of his oral evidence, of Mr. Black's oral-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: It's page 1 and 2 from my-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: Yes, if you just ... sorry, we are nearly there, just keep going ... scrolling up, please. Now, yes, exactly. The last paragraph there, Mr. ... oh, stop, stop.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: So, "Here is the recipe"; can you see that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: Yes. I'll read it quickly perhaps: Here is the recipe which leads to something distinctive. It is the recipe that the institutions follow which produces the worst losses, is most likely to cause hyperinflated bubbles, is most likely to cause catastrophic individual losses, and is most likely to cause future crises. I am speaking about the past throughout the world, but my focus is going...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: Do you recognise any prominent features that were manifest in the Irish property bubble and bust from Mr. Black's theoretical outline there, Mr. Quinlan?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: In that regard, Mr. Quinlan, in regard to how it worked with developers and, you know, taking risks and speculation, in The Irish Timesin 2004 there was a prominent article in relation to what was, in those circles, a rather famed deal that Quinlan Private organised, which was the sale of 11 acres which you purchased in 2000 for €32 million and sold, four years later, for €85...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: Yes, it's interesting, but-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: Yes I think Mr. Quinlan is happy to discuss this issue.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: The point that arises, Mr. Quinlan, I'd be very interested in your view is that the 488 apartments that eventually got planning permission, that speculative gain for clients would have transferred, just the gain, into about €70,000 or €80,000 extra on young people purchasing that. Is ... do you see that as being socially just or not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: No, I didn't suggest that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: I didn't suggest that, but do you accept that there's ... it's the land prices and the deals that were done at the time added hugely to the burden of young people trying to buy a home?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: Finally, Mr. Quinlan, in your introduction to us in relation to the relationships between the property sector and the political world, you say that you gave £20,000 to the Tory Party in England, to four seats I think, four campaigns of £5,000 each to Tory candidates.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: Well then to four constituencies-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: Well, it's ... I'm ...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Joe Higgins: "We made a contribution to the English Conservative Party for four seats at £5,000 each at a dinner with David Cameron."