Susan O'Keeffe (Labour) | Oireachtas source

Mr. Neary, when you came in this morning you said to us that you regretted what had happened. You said the system failed, you said you'd bought into the principle-based regulation. You then laid out your own statement in which you talked about stress testing, White Papers, Central Bank forecasts, strategic plans, Basel, inspections, capital requirements to domestic standing group. I would have thought, Mr. Neary, that given the scale of what happened ... that in saying at the outset that you accepted responsibility and that you regretted it, that you would have then laid out all the things that had gone wrong and you would have given us the detail of the errors that had occurred, the mistakes that were made, you would have offered the documentation to show us the exact trail of activity and where it went wrong. That's not what you chose to do and I'm wondering why you did, if you like, try to offer us the good side of what you had done, rather than say, do you know what, we were wrong, and here's how we were wrong.