Peter Mathews (Dublin South, Independent) | Oireachtas source

Going back to when taxation was first talked about in principle, philosophically - equity, certainty, collectability - I believe we have moved into the realm of what happened in the stock exchanges. This was well elucidated by Michael Lewis in his recent book, Flash Boys, which dealt with the great danger and fear among investment banks that with the fragmentation of markets, risks were becoming uncontrollable and unknown. That is why the IEX was created. Similarly, deferred taxation has become a massive fund of back-loaded money that provides working capital and resources to businesses and enhances their embedded valuations. As a result, tax arbitrage is not unlike the fragmentation of the stock exchanges.
Ireland, which the delegation said, has received a bad reputation but is now being rehabilitated. The balance sheets of the banks and building societies between 2001 to 2008 - something the Chairman will see in his banking committee - will tell us about the financial meltdown in Ireland. There was the manufacturing of a credit bubble which was the precondition for the asset price bubble and collapse. Accordingly, the directors were responsible. Forget about regulators, greedy builders and developers. The atmosphere-----