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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: Go raibh maith agat and I thank the witnesses for their presentations. Has anything been learned or has anything changed? This paints a really bad picture of where things are at. I am concerned that the banks are in to this committee time and time again, including the Central Bank. Do the witnesses know why the Central Bank is not addressing these matters? They have said that there are...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: Mr. Butler referred to Carillion and the impact of the audit company ruling Carillion was in a good state of health and the small and medium businesses have really suffered as a result of that. There has been no corrective action whatsoever. At the time I asked to have the audit companies examined by the Competition and Consumer Protection Commission.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: Is the witness sure that the Central Bank was aware?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: How can we identify now which banks are solvent and which are not?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: Is Mr. Butler saying that some or all of the Irish banks are now insolvent? Profits are declared all of the time and dividends are given out. Representatives of Ulster Bank were before the committee a couple of weeks ago and it has given something like €1.5 billion to the Royal Bank of Scotland, RBS.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: What specific legislation do we need to put in place?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: Does Mr. Butler believe we need to do a report similar to the "The Future of Audit" here?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: The ECB obviously has a scrutiny role over the Central Bank and Irish banks. Is the ECB missing all this? Why is it ignoring this?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: Is Mr. Butler saying that the Government did not know at the time-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: Does Mr. Butler believe that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: Was there not a close relationship between the key people in the banking system and the Government of the time? That is documented.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: How far away from another banking collapse are we?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: Surely governments are there to protect citizens. We are talking about all of this and why it happened but the impact on Irish citizens was enormous. Indeed, there is a continuing impact in terms of vulture funds and the way the banks have behaved towards citizens. The banks have been given a free hand by the Government to do just what they want.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: Why are they selling them if they are not making a profit?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: Could they not do the same thing if they gave a write-down to the person who held the loan in the first instance? I know from individual cases that vulture funds are making enormous profits from the write-downs they are being given.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: If one is the owner of the asset, one is entitled to know-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: Who is entitled to know? Is the owner of the asset entitled to know?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Rose Conway Walsh: Surely, it is the place of the Minister for Finance and the Department of Finance to do that.

Joint Oireachtas Committee on Health: Quarterly Update on Health Issues: Discussion (22 May 2019)

Rose Conway Walsh: If the Chairman does not mind, I will get an immediate response to each of my questions rather than piling them all together. I will do my best to conclude in ten minutes if I get short answers. I also wish Mr. Reid well in his new appointment. I hope he can make the changes that are needed to be made. Deputy Donnelly raised the issue of Spinraza and I have two follow-on questions on...

Joint Oireachtas Committee on Health: Quarterly Update on Health Issues: Discussion (22 May 2019)

Rose Conway Walsh: I understand what happened before last week but I need specific answers. The HSE met last Thursday.

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