Results 15,781-15,800 of 26,228 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: So it's not ... so, is it fair ... you ... you made reference earlier, Mr. Fingleton, that you were unique-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: -----you're unique amongst institutions. Any loan of above €1 million had to go to the board. That is not the case, Mr. Fingleton. There was ... you had the discretion to grant a loan above the €1 million level without prior approval of the board.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: But not prior to making it.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: And in hindsight-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: In hindsight, why did you change the rules that after December 2007, loans above €1 million no longer had to be approved by the board? They could be approved by the credit committee without being approved by the board. Why did that change come in?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: Mr. Fingleton, can I refer? Are you familiar with the book,Fingers: The Man Who Brought Down Irish Nationwide and Cost us €5.4bn? Are you familiar with that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: Well, I will refer to something and you can either answer it or not. On page 254, it speaks about a special account within the society called a No. 3 account-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: -----which consists of Irish Nationwide, yourself and Mr. Purcell, between 2008, jointly controlled. It could make payments without limits and were used for such things as loans to particularly sensitive figures for the settlement of disputes, fast-track mortgages of kind advanced.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: They effectively are saying that you had an account, under the control of yourself and Mr. Purcell, that effectively could fast-track loans without approval from the board.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: Okay. Can I ask you, your pension, when you took it from Irish Nationwide society in 2007, did you seek the approval of the board?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: Did you seek the approval of the board?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: And why was the decision taken at the time for you, for the fund to go from the society into your own-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: Can I ask you, if the guarantee ... you believe that Irish Nationwide was solvent on the night of the guarantee.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: If the guarantee hadn't been put in place, could Irish Nationwide Building Society have survived without the guarantee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: So how do you reconcile that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: Mr. Fingleton, how do you reconcile that the €5.4 billion of taxpayers' money went into Irish Nationwide?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: What discounts should have been applied by NAMA?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: But the discounts gave rise to about €5 billion of a discount, right.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Kieran O'Donnell: Yes, but even if it hadn't been that level of a discount-----