Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

The point is that a home is a social need and those who profiteer are allowed to do so. That has been the situation in this country.

In page 45 Mr. Regling says, "it appears particularly surprising that there was not a stronger reaction within the banks themselves and among supervisors to lending trends that saw progressive build-up of concentrated loan exposures to and within the commercial property sector." Indeed I think he would add the housing sector as well. Was it the case in reality that the property speculation goose, so to speak, was delivering golden eggs by the bagful for the bankers, bondholders and investors, and those who were benefiting simply wanted the good times to continue? Perhaps that then worked its way through to the regulators and even the establishment politicians? They were all drinking in the same well of free-market capitalism so let them at it. Would that be fair to say?