Arthur Spring (Kerry North-West Limerick, Labour)
Link to this: Individually | In context | Oireachtas source

The point is that there was never the level of arrears or stressed mortgages in Dr. Somers's generation as there is at present. That is the acid test.

My last question is in relation to the role of the witnesses as public interest directors. They ultimately have a responsibility to the shareholders. The point has been made that 48 staff of the senior management grade have stood down or have been removed. In the witnesses' estimation, if the bank is left literally bankrupt and with no resaleable value, are they culpable as directors for leading the bank to that position? In their estimation, is it appropriate that these senior people are remunerated with lucrative pensions in light of the fact that under their stewardship the banks were essentially destroyed? I put this question to both Dr. Somers and Mr. Spring.