Michael D'Arcy (Fine Gael) | Oireachtas source

Between his report and his piece for the Lenihan book, Professor Honohan seemed to pour scorn on some of the advice, and even today he speaks about experts within the elite international investment banks. An example I would give him is that Merrill Lynch said that Anglo Irish Bank was financially sound 11 days before it was nationalised. Merrill Lynch got a fee of €11 million for that.

In the overall context of the period Professor Honohan's report examines, how would he rate the advice given by, to use his own term, the elite international investment banks?