Kieran O'Donnell (Fine Gael) | Oireachtas source

If the banks were looking in today, and I do not mean any disrespect to Professor Lane, I would not think they would be shivering in their boots. They appear to be dictating the time. As this stage, this has gone on relatively unchecked for the past five or six years. The Central Bank does not appear to have anyone in the banks at this time. It has required bringing in external advice. I think this is a failure on the part of the Central Bank, whatever way one looks at it. The Central Bank is there to regulate the banks effectively. It appears to have the power to impose measures and fines. Mr. Sibley told us today that he believes the banks' systems are not sophisticated enough. I find that very hard to accept. The banks are enormous institutions. I would have thought they would be able to come up with this information pretty quickly as it is all automated.

I will ask the witnesses one last time. Do they take responsibility for this particular issue arising whereby more than 100 people and families have lost their homes? Many at this stage are possibly homeless and facing a winter and a Christmas of major concerns and worries about their families. Do they accept responsibility for this being allowed to go unchecked for too long?