Results 2,761-2,780 of 7,082 for speaker:John Paul Phelan
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: Yes. I don't think anyone ... I'm not here to disagree, I don't particularly disagree with anything that you said, but my-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: -----my point still remains. I mean, this investigation by the regulator which was, as you said, kind of, standard practice, highlighted a number of fairly startling and-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: -----omissions by the EBS.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: Thank you, Chairman. And good afternoon, Ms Harney and Mr. Gormley. I'd ask you to be as brief as you can, we only have 15 ... or I only have 15 minutes. Maybe to start with Ms Harney first in relation to the last point you made with regard to regulation. Outside of the issue of resources, which you referenced, you've detailed how you had a role in the establishment of the new regulatory...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: Okay. Can I ask in relation to the greenfield site issue: it would have been covered, I suppose, in media speculation at the time, that some of the ... maybe Fianna Fáil members of the Government would have favoured retaining regulation more centrally within the Central Bank, whereas the Progressive Democrats members of Government might have been more identified with the greenfield...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: Okay, that's fair enough. Can I ask you then in relation to the discovery, and you mentioned the reports, and we've had evidence here from witnesses of two to three people who were directly regulating, on a micro level, different institutions. How did that situation ... how was it allowed to come about? How, in light of the fact that you said you had reservations, that you had only an...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: Okay. You referenced Mr. Patterson in your comments there as well. Did you see his evidence to the inquiry?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: I want to quote a quote which has got a lot of coverage maybe in subsequent questioning of other witnesses, from him, from his evidence on the day he was here. I'll quote him directly. He said, "None of the authority - the board - had any experience in regulation [regulating banks]." You would have had some input, I'm sure, into the nominees onto the board of the new regulatory authority....
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: A romantic novelist, was there?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: A romantic novelist ended up on the board?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: He said that he flagged it at the time with the Minister and there was no-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: Okay. But with the benefit of hindsight?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: A lot of things-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: There was another quote that I just want to put to you from Pat Rabbitte when he was here last week. He gave his summation of issues around regulation that led to the collapse, and he said ... he described it as a "classic case [here] of regulatory capture". What do you feel on that particular, yes, on that particular view?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
John Paul Phelan: Okay.