Gerry Horkan (Fianna Fail) | Oireachtas source

So the answer is not about changing the law. We are happy with the law and we do not want the law to be changed to adhere with a standard where one can conceal losses. The problem is corporate enforcement and the regulators not clamping down on people. Is Mr. Butler suggesting that the regulators are not doing this as they wanted to turn a blind eye, because if they started to enforce this the losses would be recognised quicker? Eventually equity stakes were taken in the banks but Mr. Butler has contended that initially they were loans followed by equity participation-----