Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I want to move on to what Mr. Nyberg has called the real reason for the crisis. Page 100 of the his report states, "the real reason for the crisis is the spread of an ultimately irrational point of view". He makes this point with reference to the widespread belief in the model of efficient, self-regulating financial markets which he mentioned in his opening statement but he goes on to state in his report that "Only a naïve an opportunistic interpretation of the paradigm, together with a lack of either relevant experience, training or historical knowledge, could possibly have argued for a major dismantling of the traditional prudential safeguards". Can he explain, first, what he means by an "irrational point of view" and, second, what he means by an "opportunistic interpretation"? He is suggesting there was opportunism here. Can he elaborate on that point?