Results 2,121-2,140 of 4,168 for speaker:Susan O'Keeffe

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: But you were talking about it in a private capacity. Mr. McArdle, can you clarify whether it was the ESRI you hired or Professor FitzGerald?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: Mr. McArdle, on page 3 of your own statement you said: "We didn't stress-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: Of your own statement this morning ... this afternoon, your opening statement, I'm sorry. You said: "We didn't stress test for real estate." Why was that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: Maybe. "The problem was not house prices, per se, but ... real estate lending and we did not spot it or stress test for it."

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: Should we ask somebody else from Ulster Bank to come ... if it wasn't you did, in fairness to you, Mr. McArdle?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: On page 4, again of your own statement, Mr. McArdle, you say, "... the alarm bells should've been ringing in Dame Street for the best part of a decade." You were talking about the whole idea of "An annual growth rate of 20 per cent real is often taken as the trigger ... Anglo Irish Bank, crossed in eight of nine years." Now and you were referring to Professor Honohan there. Surely...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: Didn't know?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: But in fairness everybody knew that Anglo's growth rate was extraordinary, that they were-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: -----doing really well-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: So would that not have rung an alarm bell in your head or indeed any of your fellow economists' heads?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: Okay. You also say in page 3 of your statement, you say, I would've been treated as a contrarian if I had, you know, carried on in that vein. Are you suggesting that your own bank, your own employer, would've treated you as a contrarian?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: No, no, I'm not interested in everyone. I'm interested in your employer.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: So, therefore, an economist employed by a bank was there to uphold the status quo?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: An economist, employed by a bank, is there to uphold the status quoof the bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: Well, you've just said you couldn't run away and be ... and have a contrarian view.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: I think you said they might frown upon it.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: No, you said you would've been treated as a contrarian-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: No, in fairness, Mr. McArdle, you did suggest that you would've been treated as a contrarian had you done so. That's the point that I'm making. It was not an appropriate thing to do.