Ann Ormonde (Fianna Fail)

I listened to all the points raised this morning. I welcome the recapitalisation of the banks and echo the points made by Senator Rónán Mullen. Now that recapitalisation will take place, let us have a root and branch review of the banks. That is what ordinary people want. We want to restore integrity in the banks. Nobody is denying integrity has not been lost. There has been bad ethics and bad behaviour.

The reputation of the top executives has been damaged and no amount of money can restore it. Their reputation is ruined in the eyes of the people and the international community. I would hate to be in their position. I would rather a cup in the corner of the table and have my reputation than all the money they received because it is no good to them. The best thing they can do is to walk away. Let us have a clean sweep to restore confidence in the banks. The ordinary people want to start again and to get our banks up and running. The banks must help our society. Until the top layer has gone, confidence will not be restored.

I echo the points made by Senator Labhrás Ó Murchú that we need to work together and stop this nit-picking and character assassination. We must try to work to rebuild our country and give hope instead of pulling people down with character assassination. Let us have another discussion on the banks so we can try to tell the public that we will do what we can to restore confidence in banks.