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

Mr. Moran said also on page 7: "By 2008, there was a recognition within the property industry that market conditions were over-heating, however I do not believe that most market participants realised the extent of bank lending to the property market". Mr. Moran was at the coalface. He saw the size of the deals that were going down and the huge increase in price for commercial properties. Where did he think the money came from if not from the banks?