Pearse Doherty (Donegal South West, Sinn Fein)
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Mr. Moran referred to his firm's responsibility to its clients and also to the financial institutions. What is his opinion regarding the financial stability update issued in 2007 which stated that when loans relating to commercial properties fall into arrears, banks expect to write off 60% of the money involved whereas the level of write-off in the context of residential properties is 18%? That update also highlighted the risk of investing in commercial property. Was Mr. Moran aware of the update to which I refer, which, I believe, was written by Marie Hunt? Was his firm aware of the risks the banks were undertaking as a result of the huge level of investment to which I refer?