Peter Mathews (Dublin South, Independent) | Oireachtas source

I am learning as I go. Mr. Boucher maintains the bank has a policy. I asked him about the policy on fractional reserving for the five years leading up to it. We did not hear anything about that. An appropriate policy would have kept everyone's deposits safe. It would have ensured that there were no stupid loans and no asset bubble because we cannot have an asset bubble without a credit bubble. That is why the reports of Watson, Regling, Nyberg and Honohan were irrelevant because they did not identify the real problem and concentrated only on the guarantee. As any honourable banker knows, the only thing that needed to be guaranteed was deposits because bonds have a maturity and cannot be called on until the maturity arises.

In that regard I reminded-----

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