Brian Cowen (Laois-Offaly, Fianna Fail)

Having explained that we are not trying to provide a bailout for developers, I must state also that neither is the Government motivated by protecting the providers of risk capital. Shareholders in these banks have already lost much of the value in their investment as shares have fallen over 90% from their peak. If State capital is needed after the transfer of loans to NAMA, it will be in the form of equity capital thereby increasing the Government's shareholding further.

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