Results 11,521-11,540 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)
Marc MacSharry: Professor FitzGerald said he received an unsatisfactory response from the regulator after raising concerns to do with property leveraging in a Polish context, specifically to do with an Irish bank having a large banking interest there and how people may purchase, use that leverage back here, and so on. Did that make him conclude in any way that the regulator was fit for purpose here?
- Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)
Marc MacSharry: What did the regulator say at the time?
- Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)
Marc MacSharry: But Professor FitzGerald knows it was unsatisfactory.
- Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)
Marc MacSharry: That is what he said, so I am asking him about it.
- Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)
Marc MacSharry: He said it was not satisfactory and there are other questions.
- Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)
Marc MacSharry: I am just asking what made it unsatisfactory.
- Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)
Marc MacSharry: Just so I can put it on the record again, Professor FitzGerald said earlier on that he had got an unsatisfactory response, and I was just asking what constituted an unsatisfactory response.
- Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)
Marc MacSharry: Good reasons or not, Professor FitzGerald felt the regulator was brushing aside the legitimate concerns as raised by him.
- Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)
Marc MacSharry: Professor FitzGerald said he made a mistake in 2008. The ESRI focused on the fiscal area as that was where the expertise was. He said had he looked at the data, he would have known. He also said it would have taken very little expertise to see the impending financial collapse. He mentioned that the Central Bank's economist looked at that data. Did they lack the little expertise Professor...
- Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)
Marc MacSharry: Was it Professor FitzGerald's understanding that their economist looked at the data, he just did not look-----
- Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)
Marc MacSharry: Professor FitzGerald should have. He pointed out in testimony that it would have taken very little expertise to see the problem. To the best of his knowledge, the Central Bank had an economist who looked at this data, but for whatever reason-----
- Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)
Marc MacSharry: They were asleep on the job. Professor FitzGerald mentioned a couple of times the exchange between his late father, Garret FitzGerald, and Richard Bruton on a post-election programme, what he had asked and so on, and Deputy McGrath mentioned some of this as well. To what extent did the discourse between political parties and manifestos fuel the problem? Before 2007 some...
- Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)
Marc MacSharry: The economic model has been criticised. How is a government or state supposed to foresee a crisis or even reach a proper understanding of its mechanisms afterwards if conventional economic theory does not acknowledge the role of banks or consider money and debt as influential variables?
- Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)
Marc MacSharry: I thank the Chairman for giving me latitude. Does the fact that the ESRI is dependent on other sectors for 70% of its funding, rather than core Government funding, compromise its ability to give the attention and focus to the economic outlook that is necessary for a Government to take cognisance of it? Professor FitzGerald has mentioned how when he was in Warsaw, he focused on the...
- Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)
Marc MacSharry: I thank Professor FitzGerald for his honesty and candour. Given all that we know now and Professor FitzGerald's expertise, what course of action would he have recommended on the night of 30 September 2008?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Marc MacSharry: Has the Chairman nothing to add himself on this occasion? I thank Professor Black for joining us and for making the trip over. Just to start things off, he described the guarantee as an insane decision. We have had Governor Honohan from the Central Bank in and we have had Peter Nyberg, as Professor Black is aware. They have said that these were the best of all bad decisions. In...
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Marc MacSharry: Professor Black may have done the same thing in the same circumstances.
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Marc MacSharry: That is what I am asking. What would he have done?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Marc MacSharry: If Professor Black was a politician as opposed to an expert-----
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Marc MacSharry: For sure. When I asked Professor Edward Kane, who we had in lately, in the context of Europe's response to the crisis, he said that, in many ways, Ireland got a hard deal from its European partners in relation to bank debt. In the subsequent reforms that we have seen, does Professor Black think that there has been sufficient reform so far in the eurozone to make sure that a scenario like...