Oireachtas Joint and Select Committees
Wednesday, 9 September 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Ciarán Lynch (Cork South Central, Labour) | Oireachtas source
Okay but ... if I can maybe use an analogy, and it is not like somebody getting off the Titanicin Cobh because what happened afterwards was completely different, but subsidence in a house takes place because there's a drainage problem not fixed and all of a sudden somebody has to come in and the underpinners and it costs a big load of money. So it's not that the wall fell down yesterday is what the problem was; it's that there was a problem not addressed over a long period of time and, hence, a major intervention. Was the problem in Anglo growing like a subsidence issue because there was a difficulty underpinning the structure, or was it that something happened later in 2007 that was unforeseen, and where did that come from?
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