Oireachtas Joint and Select Committees
Thursday, 5 February 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Professor William Black:
Senior debt got a smaller additional yield, but it still got a high yield because it is supposed to be subject to loss. While in some ways the subordinated debt is most egregious, as you say, it is the rest of the bailout of people who were not supposed to be bailed out that is a terrible shame and is risky going forward in terms of moral hazard.
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