Gerry Horkan (Fianna Fail) | Oireachtas source

I thank Mr. Masding and his team for attending and for his opening statement, which had a certain tone to it. He does not overly brag about the bank's performance and there is a level of humility or acknowledgement that there were problems, which the bank is tackling as well as it can. Mr. Masding acknowledged that the bank's staff, customers and everybody else have taken a hit. He stated: "The progress we have made has come at some really significant cost to the taxpayer, our staff and, most important, our customers." He might also acknowledge that there has also been a cost for the bank's original shareholders, who lost virtually everything they had invested in it. They were not all pension funds and large corporate entities. I declare that I was one of those people who received 300 free shares and bought a few more, and at one stage they were great. A residents' association in my area owned €20,000 worth of shares that are now worth approximately €6. Ordinary individuals who had an account with the former building society received a few free shares and bought a few more. They, too, took the hit and perhaps that should also be acknowledged. I accept there is a risk when people buy shares.