Brian Lenihan Jnr (Dublin West, Fianna Fail)

With regard to the Quinn transaction, Deputy Bruton suggested that the regulator relied on legal advice on the transaction furnished by the bank itself. The regulator has to be afforded an opportunity of putting the full facts on the record as to whether it obtained independent legal advice of its own. I remind Deputies that many of these reports are necessarily selective with regard to the complete picture of the transaction and the role of the regulator because there are persons at large who have a vested interest in spreading the blame for transactions in which they were involved.

See this speech in context