Catherine Connolly (Galway West, Independent) | Oireachtas source

I understand and I hear what Mr. Carville is telling me, but I disagree with him.

I refer to Chapter 3. We have a problem with banks, in particular Anglo Irish Bank. At some stage the Government nationalised the bank, something it could never do before, which is interesting. It could nationalise a bank to take on debt but not for us to get a benefit from it. That is a story for another day. It might be a cause for reflection in the Department of Finance. We will move on from that. That bank was taken over and a promissory note - which I understand is an IOU - was given. The bank was in serious trouble and was involved in business for the purposes of property speculation. A Government, in its wisdom, decided to write it IOUs. Is that right? Am I wrong?