Results 7,561-7,580 of 7,975 for speaker:Joe Higgins
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: Yes and the strategy outlined, Ms Tinney, for the growth projected in commercial lending in 2005 was to be 25%; 2006, 29%; and the profit levels equally that were laid out were to be of a similar order - 25%, 2005-2008, in the updated strategy for 2004-2008. They seem to be high levels of profits in a mature market. Were you able to intervene at the board or do you remember challenging any...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: Okay. And in going for it apparently, Ms Tinney, in the EBS and developers as you outline it ... for example, in page 5 of your statement. And you speak about being inundated with proposals from EBS management on behalf of developers for quantities of cash in tens of millions and so forth being given very little time to process or absorb or to make a decision.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: Now, in ... Mr. Merriman this morning said in evidence that this was just a last stage of a lengthy approval process and that board members would have received relevant and suitable advice to help them with their decision. Was that the case as you found it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: So am I-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: Am I right here, Ms Tinney, that decisions then to give serious amounts of money to developers were not taken after a discussion on a board meeting, but were done by the ... done by board members via e-mail? Is that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: Is that the case?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: Why was it a 24-hour period do you know?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: We can take that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: We can take that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: We can take that, Ms Tinney-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: Yes-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: Okay, do you recall ever for asking for more time yourself? Did you complain about this process?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: From other issues-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: Okay. Okay, we will just move on. You say in your statement you ''were uneasy when introduced to securitisation''-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: -----which is the parcelling up of bundles of mortgages and selling them on to other organisations or funds of various kinds and, as we know, that was a huge part of the United States subprime mortgage scene. But was that the case with the EBS?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: And were those packages of mortgages and what we are talking about here is human beings living in homes that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: -----they were paying mortgages for.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Joe Higgins: Were they actually sold off lock, stock and barrel?