Oireachtas Joint and Select Committees

Thursday, 2 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

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

And, looking back now, Mr. Cowen, and you might remember I quoted Mr. Buffett earlier where he described a derivative as a time bomb, both for the parties that deal in them and the economic system. Had such a tax gone on, it might have discouraged Mr. Quinn from the extent of dealings in contracts for difference in Anglo and, thereby, reduced at least some of the damage that was consequently done. Do you regret now that that tax didn't go on?

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