Dáil debates

Thursday, 17 June 2010

2:00 pm

Photo of Kieran O'DonnellKieran O'Donnell (Limerick East, Fine Gael)

The Regling and Watson and Honohan reports both express amazement at the failure to identify the level of risk at an earlier period in the banks. It appears that the risk was in front of their faces but they could not see it. Furthermore, the issue of solvency was never addressed. The focus was all on liquidity. Was that due to a lack of expertise or a lack of procedures in the Financial Regulator's office and the Department of Finance?

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