Results 581-600 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay. Senator Barrett.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: In general, just a point, I need you to return to me with the line of questioning and what's outstanding maybe in your wrap-up, Senator, but I need you to focus up on concluding your line of questioning there. We've only got a couple of minutes left.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: I just want to deal with-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: -----the disagreement that Senator Barrett was touching upon. Just to clarify, the advice requested, was the advice requested by the Department of Finance or by Mr. Cardiff?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Who informed you of that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Right.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay, but you then fed in a document afterwards-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Were they expecting it or did you just come and write, and say, "Look, I'm going to bang it into the guys there tomorrow", or what?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Were they expecting it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay, that's fine, so you ... this is something you done under your own volition?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: So, in this regard, this is a voluntary action, but, at any time, was there a consultancy agreement between Indecon and the Department of Finance?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Well, I just want to stay with this particular. Was there any reason why liquidation was not considered on the most stressed banks prior to any guarantee being issued to ... for the other viable banks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: I know on that day you are moving very much to a pinch point where a decision has to be made but at any time in the lead up to that - I am not even talking about this afternoon, that afternoon - was there any reason why liquidation was not considered on the most stressed banks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: And this brings me on to the next issue because there is a question there as to whether Anglo is systemic or not and so forth and that it was a point of debate. So was liquidation rather than the nationalisation mentioned in your memo to Kevin Cardiff dated 25 September 2008 not a more favourable option for the Exchequer?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: To say I am grateful to allow me the discipline of getting through some of this stuff here with you, Mr. Gray. Just finally on that, was a political guarantee rather than a full blanket guarantee considered as an option by you or the board members and, if not, why not?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: So it needed a full paper guarantee not just a political statement.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Just for the moment, we can deal with the specific regulatory matters as I, kind of, go deeper into the question but just for now, I just want to deal with the processory aspects of it. In your witness statement you advise, "I felt so strongly on this that I wrote to the Central Bank Governor-Financial Regulator and to the Department of Finance and suggested radical reform of financial...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: A more holistic solution, I suppose, for want of a better word.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Were you aware of any other directors looking or doing otherwise, that would have been, that would have taken kind of similar actions?