Results 9,981-10,000 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: Okay, we're just drifting a little bit. Were you aware while you were Minister that there was no enforcement of prudential regulatory breaches in the banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: Was that the case? Was it a case that you just weren't told, or were you aware?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: No, no I get that. But were you told ... it's just that I'm under a bit of pressure on time and I've a few bits to get through-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: So, would it be a "Yes" or a "No" in terms of were you told, "Look, there's been no enforcement of the regulatory regime"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: Okay, that's good. Can I ask ... you mentioned there, the co-operative approach of the IFSC, and we've other evidence from the Governor of the Central Bank of the time and since. Was there a policy of "Don't scare the horses" when it came to the IFSC, when it came to enforcing prudential regulatory breaches?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: We have evidence from the Central Bank and regulator to say about the number of contrarian views that were there about various things over the period. Did the Governor or the regulatory authority chairman ever advise you of contrarian views within either the regulator or the Central Bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: Can I ask ... I'm just, and if you could answer me quickly on this because it's leading to another question ... When one becomes a Minister first, would you say one is more probing at that stage than, say, when one is a Minister for a term or a term and a half?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: No, no, just in time ... does one become reliant and trusting of the advice that comes?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: So, and this isn't to give any judgment at all, but it's merely to ask, if ... if hindsight were real time, was 16 years as a Cabinet Minister too much? Were we on auto pilot as a Government?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: Finally, to what extent did social partnership frame the budgetary process and did it serve us well in the period?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: Did it frame the budgets of the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: Thanks very much. Who would make the final decisions for budget day?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: Did the Taoiseach need to approve it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: In practice, is that what happened or-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: In practice, is that what happened?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: Okay. In that context, can you remember how the decision to abolish stamp duty for first-time buyers in 2007 was reached?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: Did you offset the reductions that were going to be foregone as a result of first-time buyers and increases in commercial or other properties?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: And what were ... what was the lobby at the time? You were saying there were others lobbying for other issues?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: So-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: Were their people looking to abolish it at the time?