Oireachtas Joint and Select Committees

Thursday, 7 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour) | Oireachtas source

Okay. Again, to try and simplify this down, I'm an early school leaver, I did my education as a mature student and there are people probably watching it this evening, saying, "What was the model?" The model wasn't somebody from some model agency, it was an economic structure that was put in place and it's a bit like The Hitchhiker's Guide to the Galaxy, where they design a model in that that took so long that, when the data came out, they forgot what the data they actually put into it actually was, so the answer was of no use. What I understand this meeting was about ... or maybe if you can answer what this meeting was about, was to further extend the model so to give a more comprehensive analysis as to what was actually happening. Would that be correct in saying that?

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