Results 901-920 of 4,414 for speaker:Sean Barrett
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Sean Barrett: But when houses go from two-and-a-half times average income to ten to 12 times average income, that's a huge loss of competitiveness that we had in all of that period.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Sean Barrett: In the same volume, Mr. Ahern, on page 26 again, there's how the housing policy ended up. It's a report by Maynooth; it'll come up on the screen if ... or I think you have the hard copies: "What the data reveal is a pattern of development that ran counter to what one would have expected or hoped for - those local authorities that had the most vacant stock in 2006, subsequently built the most...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Sean Barrett: Could I ask, in relation to your previous profession of accounting, how did auditors of Irish banks miss so much? We had evidence here of banks being solvent in June 2008 and into Brian Cowen's office a few weeks later, looking for €64 billion. Do you think auditing standards in Ireland are high enough in banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Sean Barrett: We had cases where the regulator drew the attention of certain banks to their sectoral concentrations and the response was, "Yes, we're quite comfortable [that was the word used] with our sectoral concentrations", i.e. all in construction. I mean, what should happen in that case? Should those regulators get in touch with the Taoiseach and say that "We're trying to regulate this sector which...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Sean Barrett: -----you know, that there's just too much sectoral concentration in construction."
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Sean Barrett: There was a public sector view, as you know, in the NTMA, that some of the banks were, in fact ... they wouldn't put their ... the pension fund into them because they had concerns about the solvency and yet it was Government policy to save those institutions afterwards.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Sean Barrett: Thank you, Mr. Ahern.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Sean Barrett: Thank you, Chair.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Sean Barrett: Thank you, Chairman. And welcome, Mr. Farrell. Can I go back to your answers to Deputies Doherty and Phelan about your e-mail to Mr. Dermot McCarthy? Do you not feel at this stage it was irresponsible to send that kind of request without knowing what it would cost the Irish taxpayer?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Sean Barrett: Because, I have a quote from Germany: "Depfa is said to have been responsible for at least two thirds of the HRE losses, well over €200 billion." So, in fact, we would be investigating today €197 billion instead of the €64 billion which ... I mean, aren't you lucky that the secretary of the Department of the Taoiseach didn't accept your representation?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Sean Barrett: Well then, the downside is that the episode seriously damaged Irish credibility in Germany.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Sean Barrett: Right, thank you. The ... You were on the financial services consultative industry panel. What work did that do?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Sean Barrett: And did you know that there were so few people engaged in bank prudential regulation in the country?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Sean Barrett: No, the question was about the number of people engaged in prudential regulation.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Sean Barrett: No, prudential regulation is the question.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Sean Barrett: The industry paid half the cost of this prudential regulation, isn't that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Sean Barrett: Was there push back in the industry again the, kind of, stronger regulation?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Sean Barrett: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Sean Barrett: You mentioned the ESRI as one of the sources. Did the banks or your federation ever approach the ESRI when they had reports on the Irish economy?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Sean Barrett: You mentioned Kenmare. I think it's fair to say that the bank economists hardly distinguished themselves in their reaction to Professor Morgan Kelly.