Paul Gogarty (Dublin Mid West, Green Party)

I will start by agreeing with Deputy Durkan. An overwhelming case can be made to ensure that those at the helm during the crisis in the banking sector get punished where the law has been flouted. The problem is that in many cases the law was lax. There was not enough regulation or enforcement. No more than in a murder or criminal investigation, one cannot bring a matter before the Director of Public Prosecutions until one has evidence to prosecute the case. My party colleagues and I - and I am sure all Members of this House - would be abhorred if a high flying fat cat executive, who profiteered from a loss making situation at the expense of the taxpayer, were to get off on a technicality. We do not want that to happen. I am reassured by the commitment of the Minister for Finance to my party and others that the issue is being followed up and that the full rigors of the law will be brought to bear. Time will tell. I share Deputy Bernard Durkan's sentiment in this regard.

Deputy Durkan also mentioned that banks went into business with speculators and the construction sector, which is true. Those comrades also went into business with councillors throughout the country. My colleague, the Minister, Deputy John Gormley, spoke earlier of a number of think-ins held in Monaghan where he altered the development plan. Tracts of land in other places across Ireland were rezoned not alone by Fianna Fáil and the Progressive Democrats, but by Fine Gael and the Labour Party, land that did not need to be rezoned because it far exceeded the demographic requirement for the area. In this case, through legitimate political donations which all of the major parties readily accepted, the business contract was signed, the land was delivered, the developers had it rezoned and made a profit and were able to borrow from the banks on the back of that speculative process. The banks fed into this; they also donated to political parties.

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