Results 25,541-25,560 of 35,894 for speaker:Pearse Doherty

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: Yes, you should.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: It was Irish Life, okay. In relation to the business overview, would you have been ... would this have been presented to you as chairperson of the board? This report?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: Okay, so Irish Life, you believe that is Omega and this was the-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: Okay, well let's go to page 47. The business overview suggests that ... and we will look at the group structure. It says Omega plc, which you believe is Irish Life, had, in H1-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: Okay, page 47.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: H1, 2008. The total assets were €101 billion, which equates to the total assets of Anglo Irish Bank at that reporting period. Well-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: The loans was €68 billion-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: But you have a 64-page report-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: -----commissioned by AIB-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: -----reported to the board of AIB eight weeks after the guarantee-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: -----which looked at taking over Anglo Irish Bank and advised against it, but suggested that there were benefits in doing so as well.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: Okay, let me go back-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: Okay, the document talks to the guarantee, it says in it's executive summary "While the Guarantee provides respite it does not fix the structural funding issue at Omega.", which-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: Now, can I get clarity on this here? Do you now believe that this is ... Omega is Anglo Irish Bank, or not?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: And I'll talk while you are looking for that. H1, Anglo Irish Bank-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: Well the half 1 reports of Irish ...Anglo Irish Bank in 31 March 2008 reported assets of €101 billion, loans of €69 billion - in this report the loans are €68 billion - and the deposits in Anglo's reporting period was €54.5 billion ... this is €55 billion.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: Can we now agree that this is Anglo Irish Bank that we are talking about?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: I understand that.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: No, I understand that. I understand that, Mr. Gleeson. We have a lot of evidence, as investigators, to go through ourselves. What I'm finding difficult to understand as ... as chairperson of AIB, in a report that was commissioned by AIB to take over a bank which was ... had €101 billion of assets ... that you gave testimony to this committee that you never considered such an event....