Results 23,141-23,160 of 35,893 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Short, yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Okay. In terms of the pre-crash period, when did you begin to notice that something was up with the capital markets?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: And what was the perception of Irish financial institutions during that period, 2007 going up to 2008? What were they saying to you? Like, you were on the end of the phone to them, you were meeting with them, they were telling you what they thought of the banks, what they thought of your bank.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Well, the markets, the funds.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: But the lenders to your institution, what were they saying? What was the perception of the markets in relation to Irish financial institutions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Of the Irish banks.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: The question is, what was the market perception at that time? So, you say that about mid-2007, you felt that something was up with the markets, obviously.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: What was the perception? What were people saying? What were traders saying to you, people that would normally lend to banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: From your day-to-day dealings with the capital markets, was there any distinction being made between various financial institutions or various Irish financial institutions or were they all being treated as a block?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Okay. In the deals that you were making, you were carrying out, was there no conversations in relation to how they perceived your bank via Anglo, via Bank of Ireland, via AIB? You know, was there none of that conversation going on?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: One of the things, one of the issues we have come across in the banking inquiry is this quote about "No Dublin trades", with a suggestion basically that Ireland was being locked out of the capital markets, that this was a direction that was given. Did you ever come across any evidence of a blanket block on deals with Irish banks? Did you ever hear any sense of that "No Dublin trades" in the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Okay. So you have, kind of, no specifics of any conversations whatsoever. Like, you know, I'm looking ... I'll go back to the e-mail that we were referring to there. Again, on page 11 - and we have this as documentary evidence - where it talks about, "One of our Canadian Holders said that she has been informed out of London that we [ILP] in Irish Life and Permanent are the next Northern...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Right.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Okay, but you're not aware of it. Obviously, you spoke to people who were speaking to hedge funds.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Yes, but the key thing I'm trying to find from here, from your experience in treasury, is was Ireland Ireland? So that means every financial institution in Ireland or was there a different ... were people sophisticated enough to look and say, "Well, we actually think, hypothetically-speaking, that Anglo Irish Bank's model is one that we do not understand [to borrow a quote from the NTMA] so,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: -----just, in your understanding, was it just Ireland was, kind of, a no-go area for some.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Mr. Gantly, we heard evidence that the main reason-----