Gerry Horkan (Fianna Fail) | Oireachtas source

-----and the watchdog or the bloodhound - whatever the word is. It is there to supervise and regulate. Just as internal auditors in banks should have been watching and people should have been fearful of the internal auditors and their external auditors, they should equally have been fearful - to a greater extent than they were, clearly - of the regulator. The witnesses represent the Central Bank. Every advertisement on radio and television states - or used to state - "governed by the regulator", and everyone thinks, "That is great. There must be proper oversight."

I have many other questions to ask. This is important, and I acknowledge Ms Rowland's comment that the opening statement was not as self-congratulatory as I felt it appeared.