Results 18,821-18,840 of 27,945 for speaker:Michael McGrath

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: Yes?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: And do you think NAMA has got the balance right in terms of working with debtors co-operatively and using enforcement powers where they have to, appointing a receiver and bringing companies down?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: So you don't support the allegation that was made at the time that NAMA was being set up that it would be a bailout for developers?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: That's not your experience?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: Or your members'?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: Okay. The fact that-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: Yes. The fact that ... of NAMA's disposals, about 90% of the assets have been bought by US private equity firms, what impact does that have on the construction industry in Ireland?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: Finally, in the core booklet, Vol. 1, page 16, there is a reference to a meeting on 28 September 2009, where you, Mr. Parlon, represented the CIF at a meeting with the Department of Finance and the NTMA officials. And the meeting notes say that the "CIF support the appointment of a ... retired [property] industry professional to the Board ... [of NAMA and the Department of Finance and] NTMA...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: Okay, thank you. Thanks, Chair.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: Thanks, Chair. You state in your opening statement, Mr. Kelleher, access to finance was not an issue raised by CIF members in that period, the period leading up to 2008, actually, it is Mr. Parlon's opening statement, and I suppose that has to be seen against the backdrop of the evidence that has emerged since from the banks in terms of the relatively easy access to credit that was there....

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: Mr. Parlon?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: Would you have got involved in individual loan applications?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: You have done.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: Yes. Has the CIF got involved in individual planning applications, supporting applications, in either of your tenure?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: Finally, Mr. Kelleher, you said earlier on that if you knew the way things were going to transpire, you might have sought to temper things, I think is the phrase you used. And I suppose my question for you is, if you were put in a time capsule and put back to 2003, as head of the CIF, with all of the knowledge you now have, and you were able to carry all of that with you, what could you have...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: Thank you, Chair. You're very welcome Mr. Davitt. Can I just start by asking you about the lack of a residential property price register and, indeed, a commercial one during the decade, let's say, leading up to the crisis? What difference might it have made if there was a published register of prices that were achieved?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: But in the absence of such a register, would speculation about what price a property fetched, could that potentially help to push up prices in the absence of hard data?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Michael McGrath: And do you believe there should be a commercial property price register?