Results 9,681-9,700 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Marc MacSharry: Was it appropriate to alter the-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Marc MacSharry: -----the committee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Marc MacSharry: But sure she doesn't want to answer it, clearly.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Marc MacSharry: You know what I mean, she doesn't want to answer it.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Marc MacSharry: I mean, I don't know. I don't know, I mean-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Marc MacSharry: Make it up as we go along?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Marc MacSharry: And, Chairman, as you know, the question was in three parts. The first one was: were you involved? She says "No" to that. The second one is: do you support it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Marc MacSharry: And the third one was: why do you think the Government felt it necessary to have a majority on this inquiry? It's a very reasonable question.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Marc MacSharry: You're the second most powerful political person in the country.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Marc MacSharry: I'm sure I could answer ... you could answer the question if you wanted to.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: Thanks very much. Thanks, Mr. Murphy, and welcome. In 2003, Project Nova was instigated, which would have fundamentally changed the business model of EBS, linking it to the larger Rabobank Group and a possible three-way platform of EBS, ACC Bank and Friends First. Was this an indication that the original mutual model of EBS was no longer valid?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: And was that driven by survival or pursuit of market share?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: And just ... I'm conscious about people watching at home and a mutual being owned by all of the people who have money in their accounts there-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: -----isn't that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: That's the model. So, presumably, to maintain a market share in a market where everyone else getting their money from the wholesale market and borrowing short to lend long at low rates and lending out at higher rates, is it the case that a mutual just might not be at the races because there isn't enough members of the mutual to keep ... keep the wheel turning?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: And is it-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: So let's say Nationwide in England - because you have mentioned them as an example - is it fair to say that while they maintain, you know, a successful business or whatever it is, that their market share, you know, when compared to others that aren't mutual, has dropped?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: Naturally this ... some of these issues, as you've said, predate your appointment to EBS. But, given your experience in banking ... a lifetime or a career in banking at different levels, if EBS, for whatever reason, had decided to maintain their mutual structure and to lend out money in line with those ... the resources of the members determined, would they be still tipping along there or...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Marc MacSharry: Just again - with your experience in banking these are, kind of, general questions - would the decision of say what was Irish Permanent Building Society to mutualise have influenced, to your mind, the direction that EBS and, indeed, others were seeking to go and the Irish financial services market?