Peter Mathews (Dublin South, Independent) | Oireachtas source

But we should all think about this. We really must wake up and be honest and banks have to stop faffing around and get real. I know that they are not actually responding meaningfully, to use their own terms, to people. I know this because I am dealing with about five cases at the moment. I know that their boards of directors are refusing to meet professional representatives in cases where those representatives based on the evidence and the facts of the case have a far more sustainable resolution for the cases in hand. They refuse to meet them. How dare they? They mandate to people who are given orders that there shall be no principal loan write-downs in the restructurings. How dare they do that when it is measurably calculable how culpable they were in creating the credit Ponzi scheme? Both AIB and Bank of Ireland measurably on their balance sheets are culpable in the creation of the credit pyramid at a level of 70% of the credit bubble. Why? It is because their loans to deposit ratios, which are the proper funding for the assets they create, were out of control at 160% of deposits, which is the mainstay funding for their balance sheet asset creation. This is very wrong. They are trying to correct those balance sheets by selling these loan books and letting people take the consequences, which is wrong.