Mr. David Hall:

There needs to be transparency as regards who is on the Central Bank's board, including whether there are customers on the board. This is basic stuff. The Central Bank has to be challenged. It was stated that people could transfer mortgages to vulture funds. At the time, as Deputy Doherty outlined, a number of Ministers made reference to that. Indeed, the Central Bank reassured people that the terms transferred with the mortgages. Why not openly say that the funds could increase the interest rates? That is a statement of fact; it is not anyone's opinion. Why was that not openly and honestly stated at the time? Why was it not confirmed thereafter? There needs to be scrutiny as to how things are done. The word "mystery" was used with regard to certain things. This committee is the appropriate place for these matters, but there is a lot of loose language and vagueness on the part of and political answers given by the Central Bank when it comes before this committee and others. There needs to be bluntness around protecting consumers. The consumer protection model should be taken out of the Central Bank completely.