Results 981-1,000 of 4,414 for speaker:Sean Barrett

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Sean Barrett: Shouldn't you have insisted on the whole lot of them supplying you with P45s on the night of 29 September? Shouldn't they have left? The penalty for that kind of failure is ... you know, you're bad at running a shop, it shuts down. These guys were hopeless-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Sean Barrett: Thank you, Chair. On their record, should they not have resigned that night?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Sean Barrett: Does it illustrate moral hazard that those who were at the centre of this largely succeeded in making other people pay for their mistakes?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Sean Barrett: Should there be compulsory rotation or turnover of accountants?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Sean Barrett: Should we separate the-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Sean Barrett: My microphone is on but the phone is somewhere else.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Sean Barrett: Should we separate auditing from consultancy services? In some of the evidence presented, there seemed to be too close a connection between auditors, the other departments of the audit firms, and the body they were supposed to be auditing in the public interest.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Sean Barrett: You refer, in paragraph 25 in your own statement, Mr. Cowen, that the analysis was "hopelessly optimistic". Should a haircut have been applied to the people who supplied what turned out to be unreliable advice to the Government and, indeed, to the banks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Sean Barrett: How do you feel that this all happened, what, seven years ago and so many of the people at the centre haven't really paid much in the way of penalties?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Sean Barrett: In the American system, as you know, I think the top ten accounting scandals have averaged fines of $700 million and jail terms of 15 years on average. Should we think of a system that rigorous?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Sean Barrett: Thank you very much. Thank you, Chair.

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Electoral Commission in Ireland: Discussion (Resumed) (7 Jul 2015)

Sean Barrett: €64 billion.

Seanad: Commencement Matters: Government Economic and Evaluation Service (7 Jul 2015)

Sean Barrett: Cuirim fáilte roimh an Aire Stáit. I have tabled this matter because the work of the Irish Government Economic and Evaluation Service is most valuable. It is an essential part of the work being done by the Minister for Public Expenditure and Reform, Deputy Howlin, the Minister for Finance, Deputy Noonan, and the Minister of State at the Department of Finance, Deputy Harris. It is...

Seanad: Commencement Matters: Government Economic and Evaluation Service (7 Jul 2015)

Sean Barrett: I thank the Minister of State for his comprehensive and wide-ranging reply. The open policy dialogue he mentioned is a credit to the Minister for Public Expenditure and Reform and his Department. It is also vitally necessary that it is not in any way subverted by people with favourite projects who try to get them through without evaluation. It is more welcome that the skills deficits noted...

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Sean Barrett: Thank you Chairman and welcome back Mr. Cowen. The memorandum of understanding between the Central Bank and the Financial Regulator dealt with the responsibilities of both organisations. Was there enough clarity in that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Sean Barrett: Was there an expectation that the Governor would invoke his rights under the MOU and intervene with the Financial Regulator and did any examples of that cross your desk?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Sean Barrett: Thank you. Can I bring it to your statement today and the bullet point 27, if I may please? "The Central Bank and the Financial Regulator’s office had significant resources in dealing with the supervision and regulation of the lending institutions." We had evidence that I think there was only 35 people in charge of prudential regulation and one person was covering both the Bank of...

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Sean Barrett: Thank you. On your bullet point 25, it says: "...there is no evidence that the Financial Regulator did not have adequate powers to deal with the emerging situation...". We did have evidence, I think it's in Honohan, that it took eight years of correspondence with what he calls Bank A, I think, which was pretty unsatisfactory to read in retrospect.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Sean Barrett: And going on to 29 of your bullet points: "The Department of Finance did not see its role as second guessing the work and assessment of the Cental Bank and the Financial Regulator's office...". Was that not their job? You know, rather than take everything on trust, see what's going on here?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Sean Barrett: But somebody to point out to you, "Minister, credit's going up at 25% a year. We're now linked with Germany, where it's going up at 4% a year; this could end in tears." I mean, somebody from the Department of Finance surely-----