Dáil debates

Wednesday, 1 October 2008

Credit Institutions (Financial Support) Bill 2008: Committee Stage (Resumed)

 

4:00 pm

Photo of Billy TimminsBilly Timmins (Wicklow, Fine Gael)

In response to the point made by Deputy Broughan, it is possible to differentiate between criticism of the banks and the intention of this Bill. While many Fine Gael speakers criticised the banks, justifiably, they support the intention of the Bill.

The issue raised by Deputy Burton in her amendment is very important and must be addressed because certainty is needed. However, it could possibly be addressed in the Minister's response or somewhere else in the Bill.

We have placed enormous emphasis on the banks but from the time of Cain and Abel we have had greed, fear and euphoria. From the South Sea bubble to today we have had all the ingredients necessary to create the difficulties we are in today. I am sure that in 100 or 200 years' time the same scenario will repeat itself because it has done so throughout history. I do not see any reason it will not do so again. We talk about historical times and lessons to be learned but I am sure if we checked through the records of the House of Commons over a number of centuries we would find the same script somewhere.

With respect to the amendment itself——

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