Results 321-340 of 4,168 for speaker:Susan O'Keeffe
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: Yes, thank you. Was INBS asked to provide documentation or detail for that meeting?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: Were looking potentially to rescue you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: The Central Bank.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: That is right, John Hurley.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: But the bottom line is, did you need to be rescued at that time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: You did not need to be rescued.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: So the meeting was unnecessary.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: The meeting was unnecessary.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: Thank you, Chair. Mr. Walsh, on page 9 of your own statement, the witness statement, you list a number of reasons which you believe were the "difficulties which the Society subsequently encountered and the associated losses arose from a combination of factors" and you list those factors - a bubble of cheap credit, hyper-competition, markets freezing, inability to refinance, the property...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: Before you park it, Mr. Walsh, just for the sake of clarity - we may forget to come back - are you saying that in relation to the Central Bank's, if you like, investigation, which it says was complex and lengthy, that you would park the whole of those findings because you were not directly invited to-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: So you would have issue with this?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: In that matter though, there was obviously a lot of correspondence, and we have seen some of it between yourselves and the Financial Regulator and the Central Bank in the time that you were chair, and there were criticisms raised going all the way back to 2004. So, are you saying that these criticisms in the Central Bank report don't relate at all to those other criticisms?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: Well, if we go specifically to Vol. 1, page 43 and 44. It is a letter from the Financial Regulator to the INBS dated 8 February 2008. The Financial Regulator "calls into question the adequacy of controls and risk management in place in INBS for large commercial property loans and suggest[s] that a significant degree of approval authority rests with a single individual, Mr. Fingleton, who...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: So you are saying, Mr. Walsh, that Mr. Fingleton did not ... was not ... did not appear ... he was not the only source of information on some of these clients and it was not that a degree of approval ... of authority rested with him. You would disagree with that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: And ... Mr. Fingleton, as you know, was here this morning giving evidence and he said that much of the way in which he had been portrayed over the years, as a man who ran the Irish national building society and that he was the main guy and he gave money here and there and everywhere. What would you say, as the man who was chair for quite a number of those years?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: In terms of the ... part of the way in which the society operated was it was involved itself with property subsidiaries and had shareholdings in various activities and so on. Whose idea was that and was that supported by the board?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: But surely not as, you know, taking large stakes in vehicles set up to make profit from commercial property development. That wasn't what was envisaged. How did that come about?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: I am just conscious of the clock. I am sorry, Mr. Walsh, it is quite-----