Results 9,361-9,380 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: You mentioned Bank of Scotland coming in. When they did, and you said your book was attacked and they were very much pursuing your business, did that lead to a looser underwriting strategy-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: -----or policy in the society?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Some months ago at this stage we had the various auditing firms in as witnesses and in questioning I had asked one - I had asked them all in fact - had they ever had a company firm that they were auditing ask them to remove an auditor or a person from the audit team for overzealous or invasiveness or ... and so on. One particular firm admitted that that happened on three occasions and in one...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: So not to your knowledge, so therefore you know nothing.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: In terms of the top 25 exposures, were there any employees who had a stake in those self-same top 25 investments?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: In terms of the top 25 borrowers, were there ever any employees or board members or yourself or whoever party to those 25 exposures - the top 25?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay. How many of your own clients, who the society would have lent to, did you in any other capacity go into business with?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay. Was that a politician?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Was that a politician?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Would you like to tell the committee who it is?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: That's fine. When you ever invested, yourself, in anything, did you ever borrow from the society yourself?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Understood. Can I ask, in the event of you wishing to borrow on that, what way would it have been managed in terms of credit committees and underwriting?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Would you step out?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Throughout your period of-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: -----tenure, your relationship to Government or, you know, was the Minister for Finance of the day accessible to you as the head of a mutual or was there contact there? In particular, you had mentioned about appropriate representations being made to Government at the time to amend the section 102 of the Building Societies Act of '89. So, you know, what shape did that take? I mean, did you...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Just very last question. In your tenure did the society lend to mezzanine or shelf companies abroad for the purposes of buying property here?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: That's all. Thanks very much. Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Thanks very much and thanks, Mr. Walsh, for being here. KPMG, in its view of the society's-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: KPMG, in its view of Nationwide's corporate governance structure ... I don't think it's me; we'll put it under here just in case. Take 3 - KPMG, in its review of Nationwide's corporate governance structure in November 2008, made numerous recommendations for improvement, including the development of strategic objectives, the introduction of formal strategic and financial planning process,...