Results 25,101-25,120 of 35,925 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: Okay. Go raibh maith agat, a Chathaoirligh, agus fáilte roimh an bheirt agaibh chuig an coiste. Just ... you've mentioned to the Chairperson that you were satisfied with all of the relevant information that you were getting from ... in relation to risks and exposures. So that being the case, how would you explain the issues highlighted in the report ... in the Boston Consulting...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: But did it review the period that you were ... as governor of the bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: So you were familiar with all of the risks that ... that you were taking. So how do you stand over the fact that a report identified that there were these areas, these gaps?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: Okay. Can I ask you, Mr. Burrows, how much time was allocated in the agenda of the board ... the board ... the court to the strategy and developing the business model and its ongoing monitoring and reviewing?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: Mr. Crowley, in 2002 the court approved the proposal to take over Abbey National. You were quoted in The Irish Timeson 26 October 2002 saying that it was, "A once in a lifetime deal''. Why was Bank of Ireland interested in taking over Abbey National at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: Okay. And, Mr. Burrows, in 2005, in your opening statement you say when ... on your appointment as chairperson in 2005 ... the bank developed a new strategy and you go on to say that its "correct geographical footprint for Bank of Ireland was Ireland and the UK and these should be the areas of focus for growth and we also recognised that Bank of Ireland did not have a rating that would allow...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: Yes, and that was, as you say, in 2005. Was commercial property, landbank and residential property seen as, or not seen as, a way of compensating in terms of growth for the lack of opportunities in mergers and acquisitions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: Property. Mr. Burrows, were you concerned at the time of the guarantee at the end of September 2008, of the issue of bad debts, future bad debts and the issue of capital within your bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: Okay. Can I ask you ... and I'm just going to refer to Bank of Ireland C3b and it's on page 30 and it goes on for a number of pages. And this is a telephone conversation that was recorded in the trading room of Bank of Ireland and a transcript of it has been provided to the committee. It's between a Mr. Tilson and a "Mick'' and it was on the morning of 30 September 2008 at quarter past...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: The head of global markets at the time would have been?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: But ... sorry, who was the head of global markets at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: Right. Okay. Okay, can I just say ...say to you ... so this is the response ... this is the conversation that taking place within the bank at the time between Mr. Tilson and Mick and it says:MR. TILSON: Good morning Mick. MICK [replies]: Well it's all over. MR. TILSON: Absolutely. MICK: Its all sorted. Mr. TILSON: All done. Magic wand. MICK: I mean, Jesus I would nearly feel like...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: Okay, I'll ask you now just because ... this was immediately, as I said, on the morning of the guarantee. Mr. Tilson goes on to say: Never mind anything with a Government guarantee. MICK: Yes, but [even if you were to] ... even if you get the -- let us say you get out and you take billions. MR. TILSON: Yes. MICK: Right, and it's ... it is Government guaranteed etc.,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: Finally Mr. Burrows, on the night of the guarantee it has been suggested in the evidence here, through a note that Mr. Sheehy, I believe, dictated, but it's been suggested in evidence here that there was a draft statement prepared by Government which had an attestation from the Financial Regulator that all the financial institutions were solvent and the system was solvent, and that was...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: Yes. A draft statement that was going to contain a formula of words attesting to the solvency of the financial system and the financial institutions which was ... which AIB had raised concerns about.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: Sorry, that was ... I appreciate that but that wasn't the question. The question I have for you is: were you party to any discussions in relation to a statement that Government were suggesting that would include a statement saying that the financial ... all the financial institutions were solvent and that AIB raised issues with this, and the statement was deleted?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: And did you only give ... did you only give a view in relation to the solvency of Bank of Ireland or did you offer a view in relation to the solvency of other financial institutions on that night?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: Is that a "No"? Just can I clarify if that was a "No"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: So, is that a "No" to the question I asked, that you did not offer an opinion on the solvency of any other financial institution on the night?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Pearse Doherty: Thank you.