Results 9,001-9,020 of 26,053 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: And the question, I suppose, is that, did you at that time look to draw down specifically about the particular institution of which Mr. Drumm had made you aware of in terms of potential build up of contracts for difference? Did you draw it down with Mr. Quinn, the actual specific institution?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: And why didn't you draw down Anglo? Why didn't you specifically ask him about Anglo, considering that you had the CEO of one of the largest financial institutions coming to you about this specific issue?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: You are aware that subsequent to that, the stake at that stage was worth 25%, it went to nearly 28% by the St. Patrick's Day massacre.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: And when did you become aware of the €2 billion that had been lent from the same institution to Mr. Quinn in respect of the purchase of-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: And what view did you take at the time? What view did you take at the time, Mr. Neary?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: And the fact that it was a loan being given for the purchase of shares in the same institution?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: Okay. And, finally, in hindsight now, what would you have done differently and do you think that the ... the domestic standing group minutes we had from a meeting yesterday in July '08 stated that the Quinn Group could have threatened the financial stability of the State ... in hindsight, what would you have done differently?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: Yes, go on.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: In hindsight, should a mechanism not have been there, from a regulation viewpoint, to be able to see that level of increase in contracts for difference in shares in Anglo under the radar?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: On the night ... on the guarantee, were alternative options to the eventual bank guarantee discussed at meetings in the days leading up to the announcement of the bank guarantee? And who presented those alternatives?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: Okay, and they were presented?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: Going to, we'll say, Vol. 2, PNE, page 89, the letter that was sent to you from David Drumm in Anglo Irish, where he said: "I strongly believe that the best solution to this issue is for the Minister to state publicly that no regulated Irish financial institution will be allowed to fail." Did you act on that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: Yes, second last paragraph. Did you act on that? It was basically Mr. David Drumm from Anglo requesting that the Minister for Finance would publicly state that no regulated Irish financial institution would be allowed to fail. Did you follow up on that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: Okay. Can you describe the events surrounding the options presented by Merrill Lynch at a meeting in the Department of Finance on 29 September '08. Were you involved in that on the night of the guarantee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: You weren't involved in that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: And can I go back again. Reflecting on it now, and you were the only financial regulator we had in Ireland, and we had a bank guarantee had been put in place which has resulted in gross of €64 billion of taxpayers' money, many people being in houses that are in negative equity. Do you still stand over all aspects of your interview on the "Prime Time" interview on RTE on the night of...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: When you say "optimistic"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: If you back there again what would you have done differently with that? Because that was a pivotal moment. Many people purchased shares and so forth-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: Okay, yes, sorry, yes. Yes. If you, in hindsight, if you were back there again now, what would you have stated to the nation on the night of 2 October '08 on "Prime Time"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Kieran O'Donnell: And then finally-----