Results 1,421-1,440 of 4,414 for speaker:Sean Barrett
- Seanad: Order of Business (26 May 2015)
Sean Barrett: I join in the congratulations to everyone who was in Dublin Castle on Saturday and, in particular, our great colleague, Senator Norris. For some of us, this is a sad day. The Government has presided over the sale of the Irish national airline without reference to the Oireachtas transport committee. They did not even have to give the Taoiseach the papers when he went into the Cabinet...
- Seanad: Order of Business (26 May 2015)
Sean Barrett: -----and it should not be tolerated by this independent country.
- Seanad: Order of Business (26 May 2015)
Sean Barrett: I wish to propose an amendment to the Order of Business to have the Minister come to the House. Go raibh maith agat, a Chathaoirligh.
- Seanad: Order of Business (26 May 2015)
Sean Barrett: Hear, hear.
- Seanad: Order of Business (26 May 2015)
Sean Barrett: Hear, hear.
- Seanad: Order of Business (26 May 2015)
Sean Barrett: Hear, hear.
- Seanad: Order of Business (26 May 2015)
Sean Barrett: It is being pressed.
- Seanad: Order of Business (26 May 2015)
Sean Barrett: Under Standing Order 62(3)(b) I request that the division be taken again other than by electronic means.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Thank you, Chairman, and welcome, Mr. Hurley. In your statement, you stated that no request for funding or resources from the Financial Regulator was ever refused. In your belief, did the regulator have sufficient staff and resources to carry out its statutory function? And was that a factor in the crisis?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Because the bank's supervisory department, Professor Honohan found, in 2000 when the Central Bank was doing it, had an approved staff of 38.5 and an actual staff of 32.5 people. And given that the Central Bank had and had subsequently 1,200 staff, the fact that so few were devoted to prudential supervision of banks, was that not a mis-allocation of resources?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Because Mr. Honohan ... Governor Honohan, as you'll know, he also has that a three-person team was responsible for Bank of Ireland and Anglo Irish Bank in 2005 so that couldn't possibly have been adequate, given the size of both of the bodies and the problems that they encountered subsequently.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Were alternative ways of supervising the prudential affairs of banks ... were they ever considered by the Central Bank board? For instance, Regling and Watson mentioned Canada as a country which had tough banking supervision and no bank crisis.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Under the current system, what should be the staffing number? I think the Central Bank now has about 1,500 staff; that's the target. How many of those should be engaged in the prudential supervision of banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Honohan, as you know, has case study (i) and case study (ii) in his report. It's on page 73. As early as August 2000 a Central Bank official was aware of problems in the case study (i) firm and it never seems to have been corrected right through to the crisis. And some of that was on the Central Bank's watch and some of it was on the Financial Regulator's watch. The picture I get is that...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Because there were only 48 people in 2008 actually working on banking supervision and the 32 when you were in charge in 2000. Out of the staff of over 1,000, the combined bodies did not take prudential regulation of financial institutions seriously enough to allocate resources to that area. It was-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Regling and Watson say on page 37, "The supervisory culture was insufficiently intrusive, and staff resources were seriously inadequate for the more hands-on approach that was needed".
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Is there a distinction between the micro supervision and the macro role that the Central Bank had? Isn’t it bogus because if a major micro sector like the financial sector goes down, it brings the entire economy down and-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: How much arises from not adequately preparing for joining the euro? Because in the national currency days, reading, say, the biography of Dr. Whitaker, one of your predecessors ... that we were able to do this. Did we understand what the free movement of capital would be and had the Central Bank any misgivings about the loss of controls over movements of capital, interest rates and the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Even if you have asset price bubbles like the one we had?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Could the Central Bank control huge flows of capital into a country now knowing the damage that it can do?