James Bannon (Longford-Westmeath, Fine Gael)

There is a view among the general public that the Taoiseach and the Minister for Finance should be more open with the facts about the assets of the credit institutions being supported by this Bill. Will the Minister elaborate on that in his contribution later tonight? It is important that there be clarity in this regard. What baffles me and many people to whom I have spoken in my constituency and elsewhere is that a country the size of Ireland, which could fit into the back pocket of the United States, can afford to commit a sum of money equivalent to the amount the United States failed to endorse earlier this week.

In this first decade of the new millennium, we are undeniably in the midst of the "Cowen recession". It was during the Taoiseach's years as Minister for Finance that deregulation occurred and mountains of debt were created. We were living in a casino, with money being thrown about like confetti and wasted by the Government. The banks and the Government fiddled while Rome burned. As Minister for Finance, the Taoiseach turned a blind eye to what was happening.

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