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

No. He's a quite well known former regulator, academic and financial prosecutor from the United States. And he came to give us testimony, and he spoke about a similar situation, of banks or financial institutions extending loans. And he said we intervened to stop loans that we called liar loans, and the Chairman, Deputy Lynch, intervened and asked: "In terms of what Professor Black means by "liar loans", are they loans on which people more or less self-assessed themselves?" And Professor Black says: "Yes. It is US business parlance." Would you describe some of the loans that were extended by Allied Irish Bank as liars' loans in the context in which Professor Black-----