Results 16,801-16,820 of 27,945 for speaker:Michael McGrath
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Thank you very much, Chair. Mr. Moran, you're very welcome.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Can I start by asking you about Anglo Irish Bank's annual report for 2007, page 3, which shows that over the period '02 to '07, profit before tax increased by 376% and earnings per share by 363% and total assets by just under 400%. So can I ask you, do you think that these levels of growth were prudent or sustainable in the context of the level of competition in the Irish lending market...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Was it sustainable?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay. And do you think that the pursuit of growth of that order inevitably impacted on credit quality and lending standards? There was such a drive for aggressive growth, did it have an impact, do you believe, on those issues - the quality of lending, in particular?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay. I am intrigued by your reference to the credit committee. On page 10 of your witness statement, you say "up to 200 staff members ... could serve on a credit committee", and in the appendix then you explain that when you add in the number of people who might dial in by video conference and those who would be attending directly who would be relevant, "some 30 to 60 people would attend...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay. You referred to a briefing which you organised involving Fine Gael - Enda Kenny, Richard Bruton plus one other - which involved Willie McAteer, Mr. Drumm and yourself. When did that take place?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Well, Mr. Kenny was questioned by Deputy Doherty when he attended and all that he could say was, "I think it was 2008".
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Pre-guarantee, post-guarantee? Look, I am not trying to catch you out. Mr. Kenny-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Mr. Kenny did give ... did refer to it in the Dáil previously-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: -----and said it was a couple of weeks after the guarantee. Now when he came before this inquiry, he said it was some time in 2008 so, can you narrow it down for us is what I am asking.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay. What e-mails are you referring to?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay. So you are confirming that you are the author of those e-mails. So the reference is an article in theSunday Independentof 21 July 2013?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: You are familiar with that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: -----by Tom Lyons and Daniel McConnell, where two e-mails in particular are referred to. The first e-mail would be 18 November 2008, from yourself to Mr. David Drumm, where you refer to an "Enda K": "Enda K called ...Said that today a lot of rumour circulating Leinster Hse concerning deal with BoI (Bank of Ireland) and ILP, (Irish Life and Permanent)." Did you send that e-mail?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Sure. And in that you were giving an account of a conversation you had personally with Mr. Kenny.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay. When was that particular conversation? Was it the same day that you would have sent the e-mail or-----