Peter Mathews (Dublin South, Independent) | Oireachtas source

In three minutes I will be gone. This is the starting point. The Irish Fiscal Advisory Council is composed of experts and the red carpet is thrown out to them, with doctors and professors hanging on its words. There is a simple way for the 1.5 million souls to see the truth of what happened in the building of a massive credit Ponzi bubble scheme, with an asset price getting out of control. The effect is measurable and, for example, Bank of Ireland is 75% culpable for the overall credit boom it allowed to happen. That relates to its board of directors and auditors. AIB is 72% culpable and the overall banking sector is 92% culpable. One can get the figures, particularly the loan to deposit ratios of the overall sector and individually above the 90% prudential level. That is measurable culpability but nevertheless, the banks are chasing everybody. They are chasing the people in 170,000 households into suicide, illness, family break-ups etc., by insisting they collect 100% of the loans. They created the bubble.

All the banks, including AIB, the former Anglo Irish Bank, EBS, Bank of Ireland, Ulster Bank and Danske, were licensed deposit takers and they broke the rules. The people on the boards in 2001 should be assembled with their auditors and shown the evidence from the accounts. That is not made up as the problem was caused by the banks. We should see whether they would blush, blink or bow their heads. That is what is needed. We do not need any more from KPMG, PwC, Deloitte or Ernst & Young. They have charged big money for pretty lousy reports.

I do not enjoy saying this but the country must wash itself out. The little Independent group of Deputies over the past few months has shone a light and brought power hoses in for the Garda and the justice system. When the Dáil met for the first time in 2011, they were laughed at because their fashion is different from the conventional and conservative establishment. That establishment has caused 1.5 million people to have their lives ripped inside out. Let us begin with objective balance sheets and by corralling the appropriate people. At that stage we can look into the forensic bits and pieces.