Results 7,321-7,340 of 7,975 for speaker:Joe Higgins

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Joe Higgins: "We also made a [another] contribution." And then you say, Mr. Quinlan, that you would have taken seats, or Quinlan Private "would have taken seats at dinners and golf outings held by Fianna Fáil, Fine Gael and the PD's [Progressive Democrats]". What was the purpose of this financing of these political parties?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Joe Higgins: Mr. Quinlan, I have three brief questions. In your dealings with the banks did you notice growing competition between them for business with you? And was growing market share, in your view, a dominant issue within the lending institutions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Joe Higgins: So it was intense competition?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Joe Higgins: Okay. Secondly, Mr. Quinlan, a narrative of some witnesses to the inquiry is that the excessive lending by banks to fund property speculation and dealing created a massive bubble which crashed, that the Irish people were saddled consequently with €64 billion of a burden to bail out the failed banks and developers. Now, the inquiry has no legal powers to ask you in relation to...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Joe Higgins: Finally, Mr. Quinlan, in the development of, I think, what everybody or most people agree was a bubble, did the media play a role in encouraging that, do you ... in your view? And in ... as you know, Independent Newspapers sponsored annual property awards which they gave out at glittering gala evenings. In 2007 you were awarded the Irish investor of the year, you were awarded the Irish...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Joe Higgins: And the media role?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Joe Higgins: Was the media ... play a role in the development of the bubble, do you think?

Written Answers — Department of Social Protection: Insolvency Payments Scheme Payments (14 Jul 2015)

Joe Higgins: 185. To ask the Minister for Social Protection further to Parliamentary Question No. 204 of 9 December 2014 regarding a review being under way in her Department on the enforcement of Labour Relations Commission awards for unpaid wages in the event that a former employee's company had ceased trading but had not been liquidated, the way such workers can have their successful claims enforced;...

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Joe Higgins: Thank you, Chair. Mr. Corrigan. Could we put up the Corrigan core document, first one there, please, 002? I've given a note to the ... Mr. Corrigan, this ... just, I want to draw your attention this, its page 118 in the document you have in front of you, Vol. 1, and its up on the screen as well, the last two paragraphs on that page please. If you can scroll her up ......

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Joe Higgins: And just in general, I understand what you said, what criteria would have been uppermost in the minds of those making the decision on who to give this ... these contracts to?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Joe Higgins: Mr. Corrigan, can you throw any light on this for me? In the Allied Irish Bank annual report 2011, they give on page 297 of that report - you don't need to have it - an account of the transfer of business from Anglo Irish Bank Corporation and then at the end of the explanation they say a net capital contribution of €1.5 billion was generated on the date of the transaction. Can you...

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Joe Higgins: Does that mean a €1.5 billion gain for Allied Irish Banks on this transaction?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Joe Higgins: Okay. You can't throw any light on it. I appreciate you haven't the document-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Joe Higgins: Yes, I think it did arise as a result of an ECB method of evaluating being different to AIB's method, so-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Joe Higgins: Okay, thank you. Just to move, Mr. Corrigan, if I could have the letter NTMA 002501, and this is a letter, Mr. Corrigan, that you wrote to the Minister, Brian Lenihan, on 27 November 2010, and if we can go to the second page of that letter please, it's .... yes. And you're very concerned here ... you're ... the letter is talking about a €35 billion requirement. Now, Deputy McGrath...

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Joe Higgins: Last question, then, Mr. Corrigan, is this. You were close to the National Pensions Reserve Fund for a long period of your working life and the legislation in 2009 was changed allowing the Government to direct funds to Bank of Ireland and Allied Irish Bank. You mentioned this in your statement, €7 billion. Can I ask you, you had been in charge, you had been seeing how these funds had...

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Joe Higgins: Well, if it continued to be invested as you had been doing, would the returns have been much bigger than the banks would give in those circumstances?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Joe Higgins: Should a notional figure like that be put into the ... when we come to the final balance of what was lost and what was gained in this whole scenario of guarantee, bailout, etc.?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Joe Higgins: Thank you, Mr. Corrigan.

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Joe Higgins: Good morning, Mr. Gallagher. Mr. Gallagher, you refer there to the Credit Institutions (Financial Support) Act 2008, enacted by the Oireachtas on 2 October 2008. Can you recall when work commenced in the Attorney General's office on the legal provisions which eventually became enshrined in that and, just to put it in context for you, I refer to a scoping document dated 24 January 2008...