Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Yes. Extracts from Project Atlas. I am just really setting the scene, Mr. Goggin. The bank's property loan book was €38 billion at the end of September 2008. Of that, €13.1 billion related to land and development exposures. The top 70 land and development loans represented 39% of the total land and development loan book. My question for you is: how could a traditional conservative bank with a proud history of well over 200 years end up so exposed to one particular sector of the economy and end up having to get a bailout of €4.7 billion from the State?