Peter Mathews (Dublin South, Fine Gael) | Oireachtas source

Guarantees require uberrima fides, which is a policy of insurance and indemnity. There was no uberrima fides at the time because the assets of the then Anglo Irish Bank and the other banks were grossly overstated. I note KPMG is advising on this particular move. KPMG was the auditor of Irish Nationwide Building Society, which had losses of €6 billion on a balance sheet of only €10 million or €11 million.

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