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Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: What ... how long did the guarantee's effects last? We've heard from again witnesses that they had ... they had disappeared by the end of that year, by December, I think, from a former Taoiseach, or a Minister. Sorry, I'm not sure which one may have said it. But how long did the liquidity ... did the guarantee provide the type of access to liquidity that the banks needed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: So, after about four to five months, your view was that depositors or lenders that would place money with your bank and other banks, began to question the solvency of the State and being able to stand over the guarantee that was given?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: Okay. In Vol. 1 page 49, if you'd just refer to that page, it's an inspection by the regulator into certain aspects of EBS's loan book in 2007, and we know that similar inspections took place across the banking system in January to March 2008. How much knowledge would the Financial Regulator's office have in relation to the loan book of EBS? And would the office have been aware of EBS's...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: So, like there's stuff in this ... in this review, for example, that no proof of addresses for individuals in terms of mortgages that had been handed out. One individual, two jobs, there was a handwritten P60 and payslip for a second job; "no tax was being deducted from [the] employment", and it "would question the sustainability of the second employment". There's also other findings,...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: But can I just, finally on this here, like, if you go to page 52, on the top of that page, it's item 4, "The Society's Credit Policy does not require bank statements to be obtained and reviewed in assessing affordability other than in the case of applications relying on surplus rent roll to support Homeloans or [buy to let]." Now, to me, that is just ... like, this is a bank issuing a loan,...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: Okay, thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: Go raibh maith agat, agus failte romhat. Going back to, just, one of our terms of reference in relation to relationships between State authorities, political parties, elected representatives and supervisory authorities, the banking institution and the property sector. Can I ask you in relation to your ... going back to your relationship with Mr. Cowen, the former Taoiseach, it was reported...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: Is that an accurate statement or not?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: That some of the parties that you have thrown, and you've mentioned that the Taoiseach would have been guests at those, and Charlie McCreevy, but would they have also included ... senior people from the financial institutions including Seánie FitzPatrick?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: The source is ... it's by a ... the investigator editor of, I think it's theMail on Sunday, it's Michael O'Farrell, posted on 30 October 2011.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: Well, the question is, outside of the post, the question is very simple. Did you throw parties where the, the former Taoiseach, Brian Cowen, or did you have entertainment or did you host events where Brian Cowen and Seánie FitzPatrick would have been in each other's company?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: Okay, okay, and ... they, they would be events where other guests would be in a ... in attendance.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: And the types of parties that you run, without intruding, and I'm only looking at the relationships in terms of the sectors that I outlined. When the former Taoiseach and former Finance Minister were in attendance, would there have been individuals from the financial institutions? Would it be the norm that, that there would be key people from financial institutions in attendance? Were they...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: Of course, I, I can understand ...I appreciate that. In relation to ... what Senator O'Keeffe was talking about in relation to the delegation to China, which I think was led by the former Taoiseach, Bertie Ahern, if that's correct. You were in attendance there when he met the governor of one of the provinces, is that correct?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: Who else was in attendance at that meeting?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: No, no, the reason I'm asking ... the question I'm putting to you directly was, was Des Richardson the, the person who instigated the Galway tent, the major fund-raiser for Fianna Fáil, was he in attendance at that, at that meeting?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: Okay. Do, what ... can you outline to the committee your relationship with Fianna Fáil's main fund-raiser, or the person behind the Galway tent? As he called it this week, I think it was his baby.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: I think he said it was his baby, this, this week, so can you outline the relationship, did you have a relationship either personal or business relationship-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: With Mr. Richardson.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Pearse Doherty: Okay, and in relation to just political donations, just to make this clear, I think it was asked earlier on but just to focus in on this; in terms of ... outside to the parties, did you provide political donations to individual TDs or Ministers and did you also include their chief fund-raisers in relation to that, to the parties?

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