Results 9,761-9,780 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: Very good. To your knowledge ... well you said it wasn't and you were not asked to consider it, so I will rephrase it: Would it have been legally possible to let Anglo and INBS fail and create a State bank by nationalising the other four?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: So on the night, it was the view of the Governor that everybody was solvent, but yet you were being asked to look at nationalisation legislation, which you're saying of solvent banks really that's a matter for Venezuela and other countries.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: Okay, yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: Again, just a slight add-on to that one, for whichever of you feel is most appropriate to answer. So, on the 24th, when you came in, it was about contingency planing. I know we spoke briefly there about the night of the guarantee. But did you have any sense when you were engaged on the 24th that, "Look, things are in a very, very grave situation and we expect to need to do something within...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: Okay. Do you want-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: For yourself this time, what was your understanding of the communications between the Governor of the Central Bank and ECB officials in the period to the night of the guarantee with regard to the deteriorating liquidity crisis?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: So to the extent that you can comment, you were unaware of any communications with the European authorities? Is that fair or-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: And yourself again, if it's appropriate, on the night of 29 September, did the banks bring a written version of a draft guarantee to the meeting? And, if so, do you have a copy of that draft and, if so, can you provide it to the inquiry?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: Okay. Just another series of questions and just I want to be cautious here, so if you feel that I'm straying into a territory that you're uncomfortable, or the Chair, I'm prepared to be corrected. For the period 2008, is it in order for you to tell the inquiry how many banks you acted for?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: But in a general, commercial sense, are you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: I understand.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: But apart from, say, purchases of buildings and property and conveyancing and that kind of stuff, I mean, in terms of what a layman like me might describe as high-level legal advice-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: -----were you acting for many banks, or how many, in 2008?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: Well, assuming that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: -----you weren't disengaged in the month of September, or hired in the month of September?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: Very good. How do legal firms, and indeed Arthur Cox, reconcile any potential for conflict of acting for the banks and, say, in the context of what we're talking about here, then also advising the Government on guarantee and other related issues?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: And just for the people that would be listening in and for the benefit of the committee, if you are acting for Bank A and you're acting for the Government on the guarantee, who may or may not be a beneficiary of this guarantee, you could advise both parties that, "Look, this is what's going on; are both sets of people happy?" And are you saying that it is the practice then that, if both...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: So, at the time there was none?