Michael Kennedy (Dublin North, Fianna Fail)

I was trying to make the point that no one in Fianna Fáil agrees with corruption. Every one in Fianna Fáil wants to see the report into how regulation failed and how our banks failed us. I welcome that report and look forward to seeing it at the earliest opportunity.

The new Governor of the Central Bank, Professor Honohan, and the new Financial Regulator, Mr. Elderfield, are independent and came in after all these problems. They have effectively stated that what the Government is doing is correct because they realise there is no other option.

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