Results 23,901-23,920 of 35,894 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: I think the key question ... I appreciate that. The key question is: when did you become aware that wholesale borrowings situation presented as a systemic risk, or did you ever become aware that it was a systemic risk?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: Mr. Cowen, evidence given by Kevin Cardiff states that a prominent business person, in the form of Dermot Desmond, contacted John Hurley, the Governor of the Central Bank, to put the case for a guarantee prior to the formal announcement on 30 September 2008. Can you confirm if you received any contact, or contacts, of a similar nature and, if so, from whom?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: And nobody ever approached you, or nobody ever suggested to you, outside the Department of Finance officials and the Central Bank, the idea or the need to bring in a guarantee of some form or other?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: Okay. And, like, the national newspapers were running columns and pieces in relation to a guarantee, in the form of David McWilliams and so on, and nobody, as you'd be out and about, ever raised the issue about the guarantee? No member of the public ever raised-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: No? Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: All right. Okay, can I ask you when did you become ... so that's from external, outside of the agencies, Department of Finance and the Central Bank, but now, internally, when did you become first aware or ... of a discussion in relation to possibly bringing forward a guarantee and making the preparations for such?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: We have ... you mentioned the nationalisation bill, which has a head under it that would ... allowed for guarantee, so that would have been around June and the e-mail that you referred to in relation to the conversation about bringing in specific legislation for a guarantee, the e-mail that we have as a committee is dated 24 April 2008. So, would that be about the earliest possible time that...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: I understand how it's coming. My question is ... is just what is the earliest stage that you were aware that there was a need to start to prepare legislation that allowed for the potential of a guarantee to bring forward? Was it when this e-mail was circulated that you referred to, which was April, or was it earlier?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: I would appreciate if you would answer the question-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: No, no-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: No, and I appreciate that. But the question specifically is, when is the first time that you became aware that there was a need to prepare legislation that would allow for the potential State guarantee of the institutions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: April-May. Appreciate that. Can I ask you, in your state ... you refer in your statement to consulting with economic consultant Alan Gray. Did you consult anybody else in reaching your conclusion on the guarantee options, even in the days beforehand? And, for each such contact, what were the principal elements of their advice? And specifically, can I ask you did you consult with David...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: Okay. Did ... when you phoned Alan Gray, that evening, did he mention to you that Seánie FitzPatrick and David Drumm had called to his offices unsolicited a couple of hours beforehand?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: Okay. Kevin Cardiff, Mr. Cowen, stated in his testimony that a one-page draft guarantee document was produced by the banks on the night. Did you receive a copy of that draft guarantee from the banks and what eventually was done with the copy circulated? Can you outline to the committee the contents of this document and explain to us why a copy of this document doesn't appear to have...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: Right, okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: That's the Department's statement on the following day?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: Okay. Okay, I appreciate that clarification. Mr. Cowen, I want to go back just a couple of months and I'd like to refer to the Druids Glen golf outing on 23 July 2008 which has been a topic of debate here in the Dáil and public discussion. And it included, at various times during the day, individuals such as Alan Gray, a director of the Central bank, Seánie FitzPatrick of Anglo...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: Yes?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: Yes, okay. You went afterwards ... with dinner and were joined by the other two, including your driver, is that correct?