Results 12,481-12,500 of 36,274 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: Okay, and Ms. Harney?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: And did he tell you that he believed that the bank was insolvent at that point in time? How do you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: Yes. And the key question I have is ... you've mentioned that you became aware of the insolvency of the institution and that's an important point so how-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: No, I'm not looking for the time, as such; I'm asking in terms of did somebody tell you that they believed that Anglo was not solvent anymore?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: Okay, and the evidence that we've had heretofore in the committee from John Hurley, for example, from the Taoiseach, Brian Cowen, is that the issue of nationalisation of Anglo Irish Bank because the Government had decided, and notified, indeed, the ECB on 8 January, that they were going to inject capital into the bank, and, on 15 January, they decided to nationalise. But the evidence...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: Well, I would like to test previous evidence with the witnesses-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: Yes, like, for example, the Chairperson asked Mr. Hurley what happened between 8 January 2009, when the Government had notified the ECB to recapitalise Anglo, and 15 January 2009, when they made the announcement to nationalise it. And the summary of what was said at that time was it was consequences that ... in terms of ... misgivings about putting capital into Anglo, particularly in...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: -----Mr. Cowen. But at no stage have we heard that Cabinet members or Government believed - to my knowledge - believed that Anglo was insolvent at that time, which means that there was significant loan losses in the institution. So I'm just asking ... with that in mind.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: But, Ms Harney, can I ... maybe to be helpful, the minute the Government nationalised Anglo Irish Bank, it no longer became insolvent-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: -----because it was now a nationalised entity.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: So, are you still of the view that you had a belief at that time - whatever time it was - that at a point in time that you were informed that Anglo Irish Bank was insolvent?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: Okay. And, Mr. Gormley?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Pearse Doherty: Go raibh maith agat a Chathaoirligh agus fáilte, Mr. Drury. Can I begin maybe if we can get Vol. 1, page 15, of the books drawn up.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Pearse Doherty: It'll be come up on your screen and I'll reference it anyway. It's the PAC report in July 2012 on the crisis into the domestic banking sector, and it noted, this is the quote, it says: Anglo had poor governance structures and procedures and risk controls during its period of high growth. Weaknesses in these areas were identified by auditors and regulators in 2003, 2006 and 2008. It goes...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Pearse Doherty: Which one is accurate?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Pearse Doherty: Which one is accurate? Did the regulator point out all of these deficiencies in 2003, 2006 and 2008?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Pearse Doherty: Okay. Were you satisfied as director of the bank, that as director of the bank you were provided with all the necessary information, and in particular, financial information necessary to fulfil your fiduciary responsibilities? Did you ever, ever have any concerns over the accuracy or timeliness of this information?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Pearse Doherty: Okay ... if we can go, look at Vol. 1, page 51, this is Anglo's annual report for 2007 and it shows over the period 2002-2007, profit before tax increased by 376%, earnings per share by 363% and total assets by 398%. The graphs speak for themselves in terms of the rapid rise of Anglo in those three areas. Do you think that these levels of growth were prudent or sustainable, in the context...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Pearse Doherty: But the question isn't about ... we know that the bank grew-----