Results 11,881-11,900 of 36,274 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: Were those roles clearly defined?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: Did that happen during your time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: But you were doing planning for the financial stability, the risks like-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: I presume it's like ... did the Governor have a ... yes, okay. Okay, can I ask you Mr. Cowen, the banking inquiry's invited a number of property developers, including Michael O'Flynn, Sean Mulryan and Derek Quinlan to give evidence before the committee. Have you been in contact with any of these developers in any form in the last number of weeks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: Have you been in contact with them in any form?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: And did you discuss that you were coming-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: And was it just a casual-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: Okay, and there's been no discussion in relation to the fact that you and he are coming before the banking inquiry?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: Okay, Mr. Cowen I'd like to ask you in relation to the share price collapse in March 2008 and the fact that the Irish Nationwide Building was frozen out of wholesale markets and ECB funding at the same time, and the widespread knowledge that was there in the financial markets of the over-exposure to Irish banks to commercial property. So given those three factors, were you aware of those...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: Were you aware of the over-exposure of individual institutions to property?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: Yes, that's not the question in terms of the capital, their capital position, it's in relation to over-exposure to property. Were you aware that certain banks were over-exposed to property?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: No? And when the Financial Timeswere writing, for example, around St. Patrick's Day about Anglo Irish Bank and its over-exposure to property, were you just unaware that the Financial Timeswere writing articles of that nature?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: Did you believe that they weren't over-exposed to-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: Did you at any time seek to find out, as Minister for Finance?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: Yes. Again, not talking about the capital position of the bank, but talking about their over-exposure to property and commercial property, did you at any time ask your officials, the Central Bank, the regulator, given the fact that very influential commentators on the likes of the Financial Times, others in terms of other banks, were advising people to sell their shares in these institutions...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: Of course, it's relevant, but-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: Yes, and I appreciate that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: Mr. Cowen, we now know, I think we can determine, although the committee will be making its findings at a later stage, but I think the Irish public have made up their mind that certain financial institutions were over-exposed to property lending. The question I'm asking again is did you ever ask anybody, lift up the phone, ask your officials, based on what was being written about in the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Pearse Doherty: For you, Mr. Cowen, when was the moment when the penny dropped, where we have institutions that were over-exposed to financial ... to the property sector? When was that, what period was it, what period of time was it?