Frank Fahey (Galway West, Fianna Fail)

I think it was in the beginning of 2003 that Mr. Dermot Gleeson, who was the Attorney General in the Government led by Mr. John Bruton, became the chairman of AIB. He took over from Mr. Lochlann Quinn, who stepped down around that time. Given that Deputy Rabbitte knows so much now about the mistakes that were made, it is a wonder he did not speak to his former Cabinet colleague about the moneys being given out by AIB. During Mr. Gleeson's chairmanship of AIB between 2003 and 2007, the total outstanding credit from the Irish banks increased from €160 billion to €380 billion. Why did Deputy Rabbitte, who knows everything about what went wrong, not take the opportunity to speak to his former Cabinet colleague, who was the chairman of AIB when things went so badly wrong? When the Deputy comes into this House, he lambastes everybody all over the place. He sat in Cabinet with the chairman of AIB, who led the bank when it was involved in reckless lending. It is wrong to say the Government made all the mistakes. I agree we made mistakes but I never heard in any of that time any Opposition spokesperson, from the Labour Party or from Fine Gael, say in this House that the banks were paying out too much money, that they were lending too much money or being reckless. The members of the Opposition have to take responsibility for having their eyes off the ball during that period just as much as the Government.

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