Professor John FitzGerald:

The now Governor of the Central Bank gave his inaugural lecture in Trinity College in, I think, December 2007, and identified five possible responses - the best, second best, third best. At the time he said the Government chose the fourth best. It had to do something. We now know that it was the wrong decision but I did not know that the Senator wanted to take me down the bank guarantee area. It is not something on which I have done specific research. I was not consulted on it.