Oireachtas Joint and Select Committees
Wednesday, 28 January 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Professor Edward Kane:
Yes, I am saying it is not sophisticated enough in that it does not recognise the value of guarantees or make an effort to track what is going on with the missing element of the balance sheet, namely, the value of government support. This is not a problem for very small institutions but as institutions get larger and larger, it starts to become a problem and at some point it becomes almost absolute.
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