Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

But, what I'm ... the point I'm making, Mr. Cowen, is if this was simply just a liquidity problem there would be no sense on anybody arguing to nationalise banks on that night, if you were going to give a guarantee to the other institutions, because the guarantee should solve, at least temporary, the liquidity problem. The reason that there was two very senior individuals, the Minister for Finance and the probably most experienced person in the Department of Finance, arguing for nationalisation, is because, as, as David Doyle himself said, there was concern about the quality of the loan book. And the issue of potential insolvency in relation to those, reflected the debate around nationalisation, as opposed to a guarantee. Was that not what was at the centre of this?