Results 23,221-23,240 of 35,893 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Go raibh maith agat. Can you put that last document that you had on the ... on the screen in terms of the internal audit that the Chairperson was just talking to you, the findings? Do you accept the findings from the internal audit?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Do you, sorry, there's three significant witnesses-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Okay, no, that's fine-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: -----we're under the clock. Point 3 there, which is ... a loan for €10 million was advanced without sufficient back-up documentation and without receiving credit committee approval, do you accept that finding? This is an internal audit department review.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: So the internal audit department makes-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: -----the internal audit department makes that as a significant weakness. The Deloitte ... in the Deloitte report they have ... on page 74 they talk about a loan amount of ... a loan amount was increased by £10 million sterling from £71 million to £81 million with the approval of the manage ... managing director, with only an accompanying memo stating that the £10,125,000...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Okay. Mr. Fingleton, you were given what some have called excessive powers going back to, what, 1994. And, again, in August 1997, in ... an extract from the board minutes say that the ... they are to include the powers to set, vary and alter its interest rates, fees, terms and conditions of all loans, whether secured or unsecured, and on all investment and deposit accounts. It goes on to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: But you ... can I clarify ... can I clarify this because the question was put to you by a number of my colleagues on a number of occasions in terms of did you issue a loan without the approval of the board or the credit committee and to my knowledge you've responded to say that you've ... you've only ever done so with the-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: -----let me finish, this is an important point-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: -----you've only ever done so with the approval of the board's policy. But is it not the case, as far back as 1994, you had that authority yourself to actually do this, to vary loans, to change interest rates, to create extensions - that you were acting within the policy of the board-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: -----but you could do it solely yourself-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: -----as an individual?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: You, there was a review-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: There was a-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Mr. ... Mr. Gerry McGinn, who became your successor, talked about the shoddy and well-below-standard practice in relation to what went on in Nationwide. He talked about it as an "outrage" but he also carried out a review into what was called "celebrity loans". He said that there was nothing untoward in relation to them because the ... powers had been devolved by the board to you which could...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: So, when Mr. McGinn talks about ... Mr. McGinn talks about the reduced interest rates and so on and exceptional rates, this is-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Can I finally say or ask you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Okay, Mr. Fingleton, can I ask you finally, you've made the claim that Nationwide was solvent on the night of the guarantee but is it not the case-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Well-----