Results 1,601-1,620 of 7,975 for speaker:Joe Higgins
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Joe Higgins: -----comment briefly. And there were various other interests, interest payments that were paid to AIB, perhaps a total of €6.5 billion. What did AIB do with the €6.5 billion that it received from NAMA?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Joe Higgins: Okay. So, again, Mr. Duffy, to ask you, the taxpayer has bailed out AIB to the tune of €20 billion-plus. There are ... there is no corporation tax for 20 years perhaps and the billions that come in from NAMA's activities go into AIB, go straight to the ECB loans. Again, could I could ask you would the taxpayer out there be justified or not in feeling deeply aggrieved at this,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Joe Higgins: Yes, Mr. Duffy, final question then: you were brought in from foreign fields where ... because you had no hand, act or part, personally, in what was going on here in the course of the bubble, the crash etc. Was your role or is your role, which is now coming to a conclusion, fattening up Allied Irish Banks for privatisation?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: Mr. Gleeson, you tell us in your extended opening statement that after October 2002, when you became deputy chairman of Allied Irish Banks, you went on a series of upskilling, educational programmes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: You attended banking courses at University College Dublin, the London Stock Exchange, Harvard Business School, Stanford University and INSEAD Paris, which describes itself as the business school for the world. You attended educational events at the International Institute of Finance and the International Monetary Conference. No doubt in some circles these would be seen as very prestigious...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: Mr. Gleeson, arguably the first speculative bubble and crash was what became known as tulip mania in Holland in 1637. Jan Brueghel the Younger has a fascinating painting about it. The impression is being given that what happened in Ireland in the crash was, you said a 100 year event. But in 1999, three years before you became deputy governor, Oxford University Press published a paper by a...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: To be clear, I'm not asking Mr. Gleeson if he was aware of this-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: -----but aware-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: Why not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: Yes, but I want to ... Why not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: I really don't have time for this.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: Yes, but Mr. Gleeson's proposed question earlier-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: Why did everyone get it so wrong? They didn't, Mr. Gleeson ...this is the point I would put to you. For example, were the critiques, very perceptive of David McWilliams, an economist, ever discussed on the board of Allied Irish Banks when he was predicting that the credit expansion was just going crazy and that it would finish in tears?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: The witness is talking down the clock, Mr. Chairman.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: Mr. Gleeson, were the warnings of economists like David McWilliams ever discussed or taken seriously on the board or by yourself?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: But you had historic precedents from Sweden only a few years before you became chairman. But I need to move on because of time. You put a lot of emphasis, and may I put it to you, Mr. Gleeson, you blame Anglo for a lot of things-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: Yes, it's an explanation but you said it was inevitable that we were drawn too much into Anglo's wake. Now, is it really credible that, you know, in Irish banking you had a pied piper called Anglo spinning tunes of excessive credit, profiteering, etc., and that the whole pack-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: -----were in thrall and dutifully followed. Is that credible?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: Because it affects your profits?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Joe Higgins: But mainly, am I correct, it would affect the bank's profits?