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Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: By whom?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Were you lobbied by developers?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: What view would you have taken, Mr. Parlon?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Did the PDs and you, as Minister of State at the Department of Finance, support the extension deadline dates for these tax incentive schemes for literally a four-year period?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Okay, you did not support it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Thank you, Chairman. Welcome Mr. Davitt. Dr. Davitt, I'm referring you to document Vol. 2, primarily to presentations made by Alan Ahearne and what I wanted really was, was that page 27 and page 31 to 32, and have you examined the factors that fuel property bubbles, as an organisation?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: No, no. In terms of the property bubble that arose during the 2000s.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Did you study why you feel it happened?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Why not? I mean, for an organisation of your size, representing so many members, why was it never decided to commission a report as to what the causes were?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: And what's your own view of what caused it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: And in hindsight now, what do you think could've been done to prevent the property crisis ... property crash?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: And do you think that the auctioneering and the valuers profession in any way have to take responsibility for what happened with the property crash?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Would it be fair to say, Mr. Davitt, that as prices went up, auctioneers and valuers were gaining?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: So was there any incentive to call "Stop"?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Could you have a situation where an auctioneer was acting for both the vendor and the purchaser? Was it prohibited? Is it prohibited, or was it prohibited?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Was there any penalties for them? Or any sanctions for them if they were caught acting for both sides?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Was there ever such an inquiry established, Mr. Davitt?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: But was it for that particular reason, where they acted for both the buyer and the seller, was there ever an inquiry set up by the institute?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: Could you have a situation where many of your members were also agents for various building societies?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Kieran O'Donnell: And could you have a situation where they would have acted both for the buyer and the seller and also acted for the purchaser in terms of obtaining the finance to purchase the property?

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