Michael Ring (Mayo, Fine Gael)

While, in principle, I support the amendment I do not believe we have had over-regulation for the past number of years. We had regulators but no regulation. We paid them big salaries and gave them many staff with whom one wonders what they were doing. They were doing nothing. The Central Bank, Minister for Finance or officials of his Department did not cry "stop".

I tabled a parliamentary question yesterday in regard to the national debt. By 2010, this Government will have trebled the national debt. Whatever little money we have to run our services is going to be put into NAMA. I would like to know - Deputy Gogarty spoke about this issue - if any Member of this House, his or her family or friends have any involvement in any company that will come within the remit of NAMA. If so, he or she should declare it. If the public find out after this legislation is passed that it was rushed through to save a Member of this House, his or her family or anyone associated with them or the builders who brought down this country to such a state that poor people are now having to pay for NAMA, they will not be happy.

I have not contributed much to this debate because I am concerned I will get so angry I will say something to upset people and I do not want to do that.

See this speech in context