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Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: -----between 2004 and 2007 went up threefold.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: No, it's not mine.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: And what's ... if you were to identify what were the weaknesses within this structure - the governance structures, the processing structures within Anglo - that gave rise to-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: -----that level of growth in ... in ... in purely property-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: -----based-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: So were they going in different directions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: Was growth going up and risk effectively-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: So was it all based ... was it predominantly based around capital growth?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: When I say capital ... the growth in asset value, was there-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: -----did hey drive their loan book on-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: -----on the premise that-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: -----the price of property was ... asset values were going up?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: Fine.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: Rather than underpinned by, we'll say, a sustainable income stream.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: Okay. Can I ... can I move on?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: Well, again, can I ask a quick-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: If we hadn't had a bank crash here-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: -----would Anglo have still ended up on the rocks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: I suppose-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: -----was the Anglo model unsustainable?

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