Peter Mathews (Dublin South, Independent) | Oireachtas source

I am doing so. I refer in this regard to the rehypothecation of financial securities. Are our guests aware that rehypothecation is happening four, five and six times and that the institutions dealing with these financial assets do not have a clue with regard to their liabilities? There are multiples of hundreds of billions involved here. This matter is not discussed and that gives rise to concern. Would it be possible for the Department to take the lead on this and inquire as to what we are trying to do? Is it the case that we are trying to raise revenues across Europe by imposing a tax on financial transactions or are we trying to get a handle on the design and framework of all these markets that are more and less transparent and more and less risky? Are we trying to build up insurance funds? I am of the view that the impetus behind the FTT was to try to develop a mechanism similar to the depository insurance fund which obtains in the United States. The balance sheets of the European banks continue to be unmeasured, weak and vulnerable.

I would love a conversation to take place among the people who are conversant in this area. They should speak plainly to one another rather than bringing lever arch files to meetings with them and-----