Eamon Ryan (Dublin South, Green Party)

The latest book to go through the American example is Too Big to Fail by Andrew Sorkin. It cites that model as the standard operating procedure and response one makes and that is what the Government has done.

I acknowledge it has taken time. It took time from the consideration of such an option to getting it through this House. It took the Government a long time but it was right to legislate and to debate for that. That is one reason for the delay that has taken place and which has caused uncertainty and recent difficulties in the markets' understanding of the extent of our problem and our ability to get out of it. However, that was the legislative process we needed to go through. Moreover, this was complex legislation on which people worked long and hard. I believe it was the right type of legislation and that it will stand up to scrutiny in the courts and elsewhere.

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