Dáil debates
Friday, 17 October 2008
Approval of Credit Institutions (Financial Support) Scheme 2008: Motion
1:00 pm
Brian Lenihan Jnr (Dublin West, Fianna Fail)
Yes, indeed. It is important to make that point because it is a distinction between the Irish banking system and the banking systems in other countries which have entered hazardous waters because of their exposure to sub-prime lending. Sub-prime lending was, in turn, discounted on the market and eventually the discounted instruments became useless and valueless.
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