Results 19,961-19,980 of 27,945 for speaker:Michael McGrath
- Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)
Michael McGrath: On the issue of the nexus of the four institutions to which the professor referred - Senator D'Arcy took him through a number of those - could better regulation domestically by the Irish Central Bank and the Irish Financial Regulator have been an effective counterweight to the nexus of those four institutions? Could proper and effective regulation in his view have offset what he might regard...
- Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)
Michael McGrath: Professor McDonough identified a point in our economic history and political history, 1987, as somewhat of a turning point, in his view, when these types of policies began to be pursued. Is he, therefore, of the opinion that what went immediately prior to that was better and more sustainable from an economic point of view?
- Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)
Michael McGrath: As for one to be holding out 1987 as a negative turning point, many commentators would argue it was a positive turning point in dealing with the crisis we had, would Professor McDonough give us his view?
- Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)
Michael McGrath: One of the four institutions, the primary drivers of the economic model, Professor McDonough cites is what he terms "the repression of labour", which, he states, "involves the erosion of the power of labour to defend its organizations, its working conditions and its standard of living". I am curious as to how he can reconcile that with his criticism of the social partnership agreements,...
- Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)
Michael McGrath: In page 9 of his opening remarks, Professor McDonough states: Instead of a port in the storm, the backwash from the Eurocliff intensified the maelstrom. On the 29th of September, 2008, in the dead of night, Ireland desperately tried to signal for help, but the canon broke loose and holed the ship of state below the waterline. Can he elaborate on what he means by "Ireland desperately tried...
- Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)
Michael McGrath: Was Professor McDonough referring to any efforts on the part of the Government or the authorities to reach out internationally in those critical 24 hours or whatever?
- Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)
Michael McGrath: Okay. I will leave it at that.
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Professor Connor is very welcome. My time is tight, so I will be brief in my questions, and Professor Connor could be brief in his replies. Does Professor Connor think anybody in authority outside the banks, such as the Central Bank, the Financial Regulator, the Department of Finance and the Government, knew at the end of September 2008 that the banks were insolvent?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Who?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: I mean outside the banks.
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: I mean anybody in the Central Bank, the Financial Regulator or the Department of Finance, politicians or anybody in authority outside the banks.
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Is Professor Connor saying, as he appears to have said earlier, that some of the top executives in the main banks knew their banks were insolvent?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Who?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Should the Central Bank and the Financial Regulator have known at that time that Anglo Irish Bank and Irish Nationwide were insolvent?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Professor Connor has given his view that Anglo Irish Bank and Irish Nationwide should have been let go at the time. In that scenario, what would have happened to depositors? Anglo Irish Bank had over €50 billion of customer deposits.
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Would that have been up to the deposit guarantee level?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Had the banks been let go, would there have been some losses for depositors?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Professor Connor attributed blame to bank managers for engaging in risky lending. In Ireland, the term "bank manager" tends to mean branch manager. Could Professor Connor clarify to whom he referred?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Professor Connor mentioned "bank managers".
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: I am giving him the chance to clarify it.