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

-----because in your earlier statement today, you talk about the powers and you speak about 100% mortgages and not having the powers to approve or disapprove a product. Now, the purpose of the entity that was created in 2003 for better or for worse was to cover a whole load of areas and put structures in place where they would interface with one another. So if you were not empowered at one end to deal with what you saw as a problem, you could talk to the other hand and say "do you have actions that you can take?" and we know from our engagement with Mr. Hurley that there was a series of measures that the Central Bank could have used. The reasoning for maybe choosing not to use them is a different debate. But even in the interest, the situation of 100% mortgages, okay you're telling us that you didn't have the powers at the time but did you turn round to anybody who did have the powers and say do something about this?