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Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: We are familiar with that.

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: Another article pertaining to Morgan Kelly carried the headline, "Banking collapse economist was 'just spouting off'". The article referred to opinions Morgan Kelly had expressed in e-mails he sent to UBS. The last paragraph of the article states:In 2002, he was promoted to professor in UCD where he is "highly regarded", according to one source at the university. It can be safely assumed...

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: Did the Irish Independentunder Mr. O'Regan's editorship ever print an article by Morgan Kelly? The newspaper has suggested that the committee's module on the role of the media could pose a threat to freedom of the press and media freedom. I am interested in Mr. O'Regan's views on that matter. Does he believe that an inquiry of this nature, which involves asking certain questions on the...

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: The journalist is Dan O'Brien and he is entitled to his view. In the article he makes many valid suggestions as to what the inquiry should do. My question for Mr. O'Regan, as the former editor of a number of newspapers, pertains to his view of politicians inquiring into issues such as the banking collapse and asking questions of journalists in regard to their role. Is that a threat to...

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: My previous question was whether the newspaper under Mr. O'Regan's editorship ever carried an article by Morgan Kelly in its entirety.

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: Mr. Browne did not name any institution.

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: Cuirim fáilte roimh na finnéithe. Ms Kennedy has made a number of comments in respect of previous witnesses who have appeared before the committee. There was some laughter when she talked about David McWilliams and his predictions. Does she believe David McWilliams was wrong in his predictions?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: Was he right at that point?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: Sorry, was it right at that point?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: I am not asking Ms Kennedy to give me her opinion on Mr. McWilliams himself. I am asking about his analysis. When Mr. McWilliams predicted that there would be a property crash, does she believe he was right?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: Does Ms Kennedy believe he was right in predicting a property crash at that point in time?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: In hindsight we know that the property crash happened and we relied on Professor Kelly's documentation in the past and we have had Mr. McWilliams before the committee. At what point does Ms Kennedy believe that Mr. McWilliams was correct in his analysis that if the trends continued there would be a property crash?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: Okay. In relation to one of the other witnesses who appeared before the committee, Mr. Harry Browne, Ms Kennedy somehow suggested - correct me if I am wrong - that the evidence he gave to the committee could be coloured by the way he left The Irish Times? Is that correct?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: In relation to the evidence he provided to the committee-----

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: In relation to the evidence he provided, what evidence in particular would Ms Kennedy like to dispute at this committee?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: Does Ms Kennedy have the quote? I have just looked at the quote that we have and it is already online. He mentioned that in the earlier part of my career-----

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: He did not mention the institution. He mentioned that it was dealt with in-house. In terms of the period of the inquiry, he referenced somebody who was let go in a paper that no longer exists.

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: That is fair enough if that was Ms Kennedy's impression.

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: In relation to myhome.iewas the contract that The Irish Timesentered into for €40 million in its totality?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

Pearse Doherty: That was the complete liability that The Irish Timeswas entering into.

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