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

Mr. Ahern, you said earlier that you take no responsibility for what the banks, or, indeed, the Central Bank or the regulator did. You don't take responsibility for alleged perhaps ... whatever, in that regards. But I put it to you, Mr. Ahern, that you have to take responsibility for this reason; that you launched the Better Regulation in 2004 and in your foreword it's quite clear that regulation was to be subordinated to allowing the banks to have sharp competition for profits. And, secondly, can I put it to you, Mr. Ahern, that in a speech to the Irish Bankers' Federation in March 2006 and the federation of international bankers, you said the following, "I know that your industry is bottom line driven and I can assure you that the Government is very conscious of its role in assisting you to maintain a healthy bottom line." So the points that I would ask you to comment is this; that you were a main sponsor of light-touch regulation which allowed them to do what they did and not only that, but this shows that you were encouraging their profiteering.