Results 9,341-9,360 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: He would have given evidence here that, despite his proximity to the bosses and the board and the 7th floor - indeed, he met personnel, he told us, regularly at the water fountain there - he had extreme difficulty in getting his message across to the board on the basis of what he called the political and property vested interests within that board. Is that your experience of having talked...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Or property?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay, and he did say that he regularly ... this is the second part of that question and I have one very final one, Chairman, if its okay. The ... he said he regularly presented to the board. Obviously, he was brought in to give presentations and so on.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Would there be anything to prohibit, for example if he'd have said "Look, while I'm here, I have concerns about such a thing." Would that opportunity have ever been afforded to somebody like him?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay. That's good, that answers that. You mentioned how, in part of your dual representation down on the board of the regulator, that you requested a specific private meeting with each of the individuals from each of the sections.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Again, we had people who claimed to be dissenting voices from those sections that were in here. The evidence will show who they were. Did any of those people highlight to you, "Look", you know, I've had serious concerns here. I don't have enough staff", or ,"Nobody's listening", or, "There's a bubble building", or, "We're not doing anything on the macro-prudential regulatory side, we're...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: -----were able to share that with you? Did that not ring alarm bells for you or did they just simply not share anything with you?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: And is it fair to say nobody did?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Thanks very much.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Were they attempting to pair institutions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Thanks, Chairman, and welcome, Mr. Fingleton, and thanks very much for the time. This question may have been somewhat covered already by some colleagues but during the period 2003-2006 with commercial lending being the driver for the reasons that you outlined earlier on, the society trebled its book from about €3.5 billion to just under €11 billion. Considering the risk...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: So you're happy that you did have the capacity; it was prudent at the time-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Did the demutualisation-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Sorry, go on.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Yes, okay. Around the same time in the early 90s, Irish Permanent, then building society, demutualised and made changes and so on and they had very much laid the foundations for their ultimate flotation. Did this add pressures to your own outlook from a corporate perspective to say, "Look, this is where the society needs to go or should ... or ought to be going"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: So the core business of home loans, is it fair to say or not that there was an abandonment of core business in favour of growth using the commercial market that was out there, as you said, because of a deficit in the 1980s for housing?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Did-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Did-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: But surely you would have had commercial loan targets as well?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay, so-----