Niall Collins (Limerick West, Fianna Fail)

I welcome the opportunity to contribute to the debate tonight, which is a follow on from the two day debate held last week on the economy. There is no doubt that there were monumental failures in our society in regard to banking regulation and this side of the House has taken its share of the blame for that but we must look around and be more inclusive in the blame.

I want to compliment RTE which broadcast a documentary recently entitled "Freefall". One of the striking aspects that emerged from that documentary for me, as a Government backbencher, was the absence of any comment or theme from the Opposition parties to the effect that there was no regulation in the banking sector. They did not say it at the time and now they are coming in here and saying it when the game is over. They must accept their part of the blame in regard to that.

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