Results 8,561-8,580 of 26,043 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Okay-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Okay. Can I just go back and ... Mr. McArdle, you made reference to groupthink. And ... in late 2006, Morgan Kelly wrote a piece in The Irish Timesthat there would be a 50% fall in house prices. Subsequent to that, right ... the AIB, Mr. Beggs around the same time, it's on page 49 of ore documents - Bank Economists. From the unit of which you were head of and you said: ''The Irish Housing...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Right and ... how do you reconcile that when you had Morgan Kelly coming out saying there would be a 50% fall in price that ... prior to that, Mr. Beggs and a couple of months after, Mr. McArdle, Mr. McLaughlin and Mr. McArdle, you both stated that we would have a soft landing.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: You were saying in fairness in 5 June 200-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Well ... well, how do you reconcile it was completely ridiculous to suggest-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Well, I'm reading it from the transcript-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: With due respect, Mr. McLaughlin-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: I just want to put it in context -----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: €20 billion of taxpayers money we'll say ... in terms of Bank of Ireland ... €5 billion gross went into ... of taxpayers money ended up going into Bank of Ireland-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: No, it's to do with ... but saying that -----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Yes -----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Was there groupthink?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Which proved to be correct-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Mr. McLaughlin, was there groupthink? Was there groupthink amongst the banks? Because I don't see any great difference between what the economists have said here.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Yes-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: But, with due respect, Mr. McLaughlin, it was against the backdrop of nearly 90,000 units being built in 2006, With due respect was it not built in quicksand of the property structure in Ireland?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Was it not built in quicksand? Your forecasts were built significantly around construction in Ireland.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: In such limited time, I mean was there not a solvency issue as well, with due respect, Mr. McLaughlin, at the time in the banks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Mr. Beggs and Mr. McArdle, in the limited time I have.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: In due respect, I've limited time. Why did you say there would be a soft landing?