Brian Lenihan Jnr (Dublin West, Fianna Fail)

I am not criticising the fact. I am merely commenting on the basis on which I will prepare my reply.

I wish to return to the purpose of this amendment. Many harsh things were said, as were many true things, during the debate this afternoon about the banks, shareholders who lost their pension funds investing in these institutions, the quality of the management of these institutions and the specific misconduct engaged upon by the chairman of the particular institution with which we are dealing today.

I avoided the word "misconduct" initially and used the word "disappointment" which I have used frequently since. I avoided it initially because my concern, as Minister for Finance, was for the financial stability of the banking sector. With regard to the matter of which complaint was made, Deputy Burton began the debate by pointing to extremely serious issues of corporate governance with regard to this particular company. She referred to the loans to directors, which I know the chairman explained at the extraordinary general meeting but about which questions remain to be answered. I understand the regulator is examining this question——

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