Results 10,901-10,920 of 27,945 for speaker:Michael McGrath

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Okay. Mr. Aynsley, you say in page 15 of your witness statement, the main one, "I formed the view that much of the comment/challenge from the DoF increasingly became politically motivated." That's quite a serious charge to make. Can I ask you to elaborate on that, please? What do you mean by that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Page 15, after the first paragraph.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Yes. So, it's immediately after the top paragraph.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: It's two lines that sit on their own.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Yes, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Sure.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: But why do you believe it was political rather than motivated by what they felt was in the best interests of the State?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Why was it political, the motivation?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: And would that wish even-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Would that wish even override what is in the best commercial interests of the bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Okay. You do raise one specific issue immediately after that reference, and I can't lead you into areas that will be covered by the commission of investigation, but it's quite an extraordinary extract from your witness statement, and I'm not going to question you about the execution of the transaction itself because that may or may not be examined by the commission, but your central...

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: That's an extraordinary allegation, Mr. Aynsley.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Has that e-mail been furnished to the inquiry yet?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: But it would be in the possession of the special liquidator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: And, essentially, the e-mail provides an account of a conversation, is it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Okay. And it was sent to you by way of ... of a formal memo-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: -----an e-mail memo.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: And what steps were taken ... like, when that was elevated to your level-----