Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

The point I'm making really ... that by NAMA being established, it crystallised losses of the order of 61% discounts in Anglo and Irish Nationwide at a time - and there is a direct correlation between our spiking of our sovereign debt cost and the establishment of NAMA - and the point I'm making really is if Irish Nationwide and Anglo Irish had been nationalised the night of the guarantee, is it possible that you could have ring-fenced both banks and, ultimately, the cost to the taxpayer and the Irish citizen would have been less?