Results 4,081-4,100 of 6,295 for speaker:Michael D'Arcy

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: You ... you subsequently concluded your time with the IFSRA about four months later.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: Can I ask you, subsequent to that, when you had left, about 15 months later, all of the NAMA moneys were transferred, the loans were transferred to NAMA from the covered institutions. Were you surprised with the level of discount considering that you had overseen... you had been the prudential director for ... from going back to 2003 and, subsequently, you were the CEO ... were you surprised...

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: It was only 15 months later-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: Had nobody foreseen it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: You participated in an interview on "Prime Time" with Mark Little on 2 October, I think it was?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: Did you see the ... the "Prime Time" interview with Morgan Kelly on 30 September?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: You didn't?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: And if I had said to you that Mr. Kelly said that a standard banking ... a standard property bubble in the United States would cost about 25% of the loan book, would you be surprised?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: A standard bubble, a property bubble in the United States, if the analysis would show it would cost about 25%? That was only two nights before you were on "Prime Time". You didn't see that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: Could I ... In that "Prime Time" interview, Mark Little put it to you that the fundamental weakness was that Irish banks had lent recklessly into the crumbling property sector. That was the position that he put to you and you said that that wasn't a fundamental weakness, that the difficulty was the liquidity, the international liquidity concerns. That was your position. Can I ... did you...

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: Can I, well if you watched yesterday you would have ... I read a portion of a section 33AK protected document, it won't come up. I'll read that portion again into the record Chairman:Irish bank share prices have continued to fall and have lost between 30% and 50% of their value since start of ['07]. [This document is dated November 2007] Notwithstanding the posting of good results by [a...

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: Can I ask you, while we're speaking about motivation behind investors' viewpoints, in Simon Carswell's book, Anglo Republic, you were mentioned quite a bit, Mr. Neary, and I want to read a ... following the St. Patrick's Day massacre as it became known-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: Are you familiar with the book?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: Okay. Well, I'll give you a quotation, Mr. Neary. On page 1 ... sorry, if you'll give me a moment, please. "Privately David Drumm told colleagues that he didn't believe that the regulator's investigation into alleged rumour mongering about the bank would go anywhere." Did you conduct an investigation into rumour mongering subsequent to the St. Patrick's Day massacre?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: So who instigated that investigation? Was it yours or was it as a result of executives from Anglo Irish Bank lobbying you for that investigation?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: Can I also read on another passage, please?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: The regulator also looked into the activities of ... can I mention these, this is in the public domain, Chairman?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: Okay, I won't name the two traders.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: Two traders at Davy's, who had been targeted by Anglo the previous autumn for advising clients to sell the bank stocks. Now, that was the previous autumn. There was also an investigation into Merrion, in which the CEO, Mr. John Conroy-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Michael D'Arcy: Well, I suppose, what, what I'm trying to, to pursue, Mr Neary, is were you acting in your own volition or was it as a result of you being pushed by a bank where there were concerns nationally and internationally about the standard of the bank's balance sheet? And brokers, independent, who give advice to their clients, were investigated as a result of who pursued whom. Was it you?