Mr. Gerry O'Regan:

The media in common with everybody else can be warned once again of the danger of hubris, the danger of a herd mentality and the belief that people can become masters of the universe. We suffered at the time almost unstoppable economic advancement and basic economic textbooks would have told us all that this will not continue the way it is going.

The other point is that in retrospect, from a journalistic point of view, and I adverted to it earlier, all the Irish media, including the Irish Independent, missed one of the really big stories of the time, namely, the problems which were in our banking sector, particularly in a certain number of the banks. That was hidden from view from practically everybody at the time, perhaps in retrospect on the question of could it or should it have been found out. To go back to the Watergate scandal, they got Nixon but they might not have. We did not get Nixon.