John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

My apologies, Senator, but the point is that the legislation will not be retrospective and that it has now been almost proved throughout the State that this practice was systemic. People were sold a product without realising that for the individual adviser, bank or institution there would be ongoing benefits. There was a benefit for financial advisers, whether inside or outside banks, in walking a person down the road towards accepting such financial cover. Allowing this to go unchallenged is simply wrong. In the case of those who were and still are involved in the institutions in the practice of benefiting from borrowers, those who took out endowment mortgages and the people I have described who took out other financial packages to deal with their affairs, it would be wrong to let this go. It would be wrong not to, at least, bring together the information that proves that not only were the banks out of control at the time but that they were also abusing their position in benefiting from individuals and businesses that went to them for advice.

Senator O'Donnell made a valid point about a case being outside of the six years but it is worth commenting on, I think.