Results 2,221-2,240 of 4,414 for speaker:Sean Barrett

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Sean Barrett: Is there a contradiction between promoting the development of international financial services in Ireland and the important task Mr. Wright just described of seeing whether the rest of the banking system in Ireland was sustainable or whether it was on unsustainable paths? In Ireland it is called the "green jersey", that one must keep the image of Ireland high and if that meant ignoring what...

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Sean Barrett: The 100% mortgages issue seemed to catch the Department almost unawares according to Mr. Wright's report.

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Sean Barrett: Once the Financial Regulator decided on 100% mortgages, the report says that the Department went silent on the issue.

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Sean Barrett: Mr. Wright mentioned the overheated construction sector on page 31. What could Ireland have done to restrain an overheated construction sector?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Sean Barrett: Mr. Wright mentioned a hundred members of staff, of whom half had master's degrees. That only brings the relevant number from 39 to 50, which still falls far short of the proportion he would seek in Ottawa.

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Sean Barrett: Of the 542 staff Mr. Wright looked at, 58 were in the financial services sector. Do we know how many of those had master's qualifications in economics and do we know the split between those who were promoting Ireland for financial services and who were also to watch what was happening in Irish banking, which caused the great collapse he described for us?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Sean Barrett: Thank you very much, Chairman. I welcome Mr. Wright and thank him for his report in the first instance, for being here today and, indeed, for keeping up with what has been happening in the Irish economy. I think we have a friend in Ottawa looking out for us. As a student in Canada, I remember that we used to go to western Ontario to the great seminars on public policy. That was Mr....

Seanad: Health Insurance (Amendment) Bill 2014: Committee Stage (17 Dec 2014)

Sean Barrett: I second what Senator Crown has said. The medical argument against smoking is unassailable at this stage. All recent Ministers for Health have endorsed that. The amendment attaches a penalty to a health-damaging factor. It is easily verified as people on renewing their premium can show that they have not been smoking. It tackles the moral hazard problem that if one does not smoke, one...

Seanad: Health Insurance (Amendment) Bill 2014: Committee Stage (17 Dec 2014)

Sean Barrett: I agree with the Minister that health insurance companies should be allowed to insist on people taking the treatment as sanctioned by the NCPE rather than spend excessive money. Senator Crown’s case does, however, infringe the basic foundations on which this area operates, open enrolment lifetime cover and community rating. In the example he gave, somebody is refused cover and is...

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Sean Barrett: I again thank Mr. Nyberg. On page 89, it is stated that among non-executive directors it appears that the banking knowledge and expertise necessary to assess the lending and funding risks inherent in bank business models was insufficient. In return for being the lender of last resort, should Parliament - this committee - insist on a quid pro quofrom banks if they want this protection and...

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Sean Barrett: Thank you. We appreciate it. I would like to repeat a quote that the Chairman read recently: The CB was not powerless; it had the right to direct the activities of the FR and it could advise the Government. There are, however, no records of such direction or advice or even efforts at such.Were there any board members in the Central Bank who held the view, which might be shared by Mr....

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Sean Barrett: The quote I have read states that there are "no records of such directions or advice or even efforts at such".

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Sean Barrett: That is a quote.

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Sean Barrett: I think the Chairman read it earlier.

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Sean Barrett: Were there other dissident voices within the Central Bank?

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Sean Barrett: My final question relates to the advice given by the auditors. Mr. Nyberg says in his report that the advice given, including by auditors, was that banks were solvent at the end of September 2008. Are there precedents in other countries or in the private sector for people engaging in litigation against accountants on the basis that the accounts did not represent, in the event, a true and...

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Sean Barrett: I thank Mr. Nyberg and the Chairman.

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Sean Barrett: No, I think it has been covered very well. Thank you indeed.

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Sean Barrett: I welcome Mr. Nyberg and thank him for his informative presentation and all the help he has given us today. On page 71 of his report, he refers to briefing notes prepared by the Department of Finance for the Minister in 2007 which sought to refute warnings made by Professor Morgan Kelly regarding the housing market. Has Mr. Nyberg seen those documents?

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Sean Barrett: Can Mr. Nyberg give a summary of what was contained in those speaking notes?