Results 23,921-23,940 of 35,924 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Pearse Doherty: Okay, my final question-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Pearse Doherty: It's a technical question that I'm interested in and when ... and, again, I know that you weren't involved with the NTMA at the time when the Government sought a bailout or a programme of assistance from the troika. At the time there was certain newspapers internationally saying that we shouldn't panic in terms of the yields because there was a very low level of trading on the bond market...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Pearse Doherty: Thank you very much.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Pearse Doherty: Go raibh maith agat. Can I ask you, Mr. McDonagh, that, we've had evidence to the committee and the evidence suggests that the length of time that it took NAMA to undertake the loan valuations, that that caused problems in itself. And I recall you recounting just the length of time that it took you just to deal with the first tranche of loans and the haircut that came from that. Can you...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Pearse Doherty: Okay, so six and a half months, and that's for the entire ... so the Financial Regulator had the power to go in and look under the bonnet, to do on-site inspections and do loan-by-loan analysis, send in a team as such. In your view, if there was, given your experience from NAMA and bearing in the mind that the Central Bank wouldn't have to wait for European approval and all that, how long...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Pearse Doherty: Three to four months.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Pearse Doherty: To look at the top 50 borrowers.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Pearse Doherty: Okay. Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: Go raibh maith agat, a Chathoirligh. Fáilte arís an tUasal Cowen. Can I ask you, Mr. Cowen, when did you first become aware of ... that the wholesale borrowing situation presented a systemic risk? And how was this risk relayed to you and by whom was it relayed to? Can you tell the committee, like, what was the earliest point in 2008, or before, that this issue was discussed by...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Pearse Doherty: Okay.
- 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-----