Enda Kenny (Mayo, Fine Gael)

I certainly do not, and I said clearly in my state of the nation address that the people were not responsible. The people were the victims. I never said that all of the people went mad borrowing. I made the point against the background of explaining matters to an international audience. When I see the letters that were sent to students to offer large overdrafts or the incentives given to persuade people to take out loans on their houses to spend €100,000 on furniture, €50,000 to tarmacadam the drive and another €50,000 for the BMW, I am reminded that people were the victims of an incentivised scheme which spawned a sense of greed among those in higher echelons. The more they lent, the more they got. The implications of that are still being felt by responsible people in the banking system, who are also the victims of public retribution because of the sins of others and the policies that were in place. Deputy Adams quoted me accurately on this occasion.

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