Results 16,461-16,480 of 26,050 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: In substance?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: And, on NAMA, in your statement you referenced that ... the transfer of loans based on a discount on a broad stratified sample of loans for each bank, which I'm assuming is linking in to what was the original business plan, which is a 30% discount.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: What would have been the benefit of that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: Okay. Would you have liked to have seen Anglo - or IBRC - liquidated before it was?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: And was there a point that you could have done it prior to the first repayment having to be made on the promissory note?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: It wasn't an option.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: And, I suppose, finally, if NAMA hadn't been established ... hadn't been set up or the haircuts were much lower, could we have avoided a bailout?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: And, I suppose, in summary, as you're here, what would be your overall, I suppose, summation of your dealings with the banks from November 2008 onwards to now, both in terms of how it came to pass that €64 billion of taxpayers' money gross went into the banks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: Okay. And, just, I suppose, a final point ... a very final point. When you were doing the due diligence with Arthur Cox and Anglo Irish Bank, would they have looked at the model in terms of the type of interest rates that would have been charged to customers and the cost of funds for the bank itself?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: So Arthur Cox did not look at the loan book?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: So, therefore, are you saying to me that you made your decision on nationalisation of Anglo based on corporate issues as distinct from financial issues?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: Thank you. Welcome Mr. McCreevy. Just to clarify one point on the single regulatory authority, did you personally support what was actually eventually set up?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: Did you get your way?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: In hindsight, did it give rise to a situation where confusion rose between the Central Bank and Financial Regulator?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: Can I-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: That's fine. Can I ... the last budget you brought in was the 2004 budget; am I correct on that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: December.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: Okay. Your announcement of decentralisation, do you now believe it was a failure?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Kieran O'Donnell: Why not?