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The financial regulator was before the Dail Finance Committee yesterday ...

  • 15-10-2008 4:07pm
    #1
    Gandalf23
    Closed Accounts Posts: 1,643 ✭✭✭


    Shane Ross on Matt Cooper now ...

    The Financial Regulator said yesterday that Property developers owe the banks €39 billion ... €15 billion of which is "vunerable" and may not be ever paid back ...

    Banks have massively over leant to property developers.

    Still listening now ...


Comments

  • #2
    Gandalf23
    Closed Accounts Posts: 1,643 ✭✭✭Gandalf23


    Never any spot checks on banks over the last years...

    Financial regulator continuously folded to "pressure" from the banks ...


  • #3
    mike65
    Closed Accounts Posts: 88,972 ✭✭✭✭mike65


    I'm listening, the man is a disgrace. Esp when you think back over the overcharging scandals.

    potted bio
    Patrick Neary is the Chief Executive of the Financial Regulator, which is responsible for the regulation of the Financial Services industry, both from a prudential and a conduct of business viewpoint.

    Patrick Neary was appointed to the position of Chief Executive in February 2006. Prior to this, he held the position of Prudential Director of the Financial Regulator from 2003. In this role his responsibilities included the protection of consumers’ deposits, funds and policies. He is a fellow of the Chartered Association of Certified Accountants (FCCA). He was previously Head of Securities and Exchanges Supervision and Deputy Head of Banking Supervision in the Central Bank of Ireland. He began his career in 1971.



    Mike


  • #4
    Gandalf23
    Closed Accounts Posts: 1,643 ✭✭✭Gandalf23


    Shocking stuff.

    No wonder we're in the god-awful mess we're in.


  • #5
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Damn straight

    !


  • #6
    seamus
    Registered Users, Registered Users 2 Posts: 68,317 ✭✭✭✭seamus


    So the banks are going to just write off 40% of the money they loaned to property developers?

    Any chance they'd write off 40% of my mortgage? Sounds fair to me...


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