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

Okay. We've heard testimony from ... from others in the committee, including Professor Honohan, which talks about the damage was done, you know, in the period running up to 2006 ... that period ... that when you were going into 2008, it was too late. Can you explain to me - and that was ... obviously ... coincides with the period when you were head of lending of Anglo Irish Bank for the Irish division - can you explain to me how NAMA had to apply a 61% discount to loans that your bank and you, as head of lending, approved? How did you get it so wrong and ... when we compare it to other banks which had haircuts but not as high as 61% applied to them?