Professor Terrence McDonough:

I have a strong opinion on what should have been done with the banks. I am a little hesitant to bring it up lest I be accused of, to use an American term, "Monday morning quarterbacking". I suppose the closest Irish phrase is "hurling on the ditch". The Government should have nationalised the good part of the banks and left the bad part of the banks in private hands. It should have taken over the deposits, which are not assets but liabilities. It should have taken a corresponding amount of assets, which would have included the buildings, office, equipment and general management structure of the banks, and left the bad loans to be worked out in a very capitalist and very private way.