Lisa McDonald (Fianna Fail)

I fully acknowledge the sense of frustration in regard to the cancerous issue of the banks. The Opposition is going up a blind alley calling for the head of the Minister for Finance. Heads should roll. I have my ear to the ground and I speak to people as much as anybody else in this House. The public want banking heads to roll.

I have listened to the debates on the Order of Business over recent days and people want to bring in inspectors, the serious fraud squad, internal and external auditors, the Pensions Board and IFSRA, none of which has any teeth. There is a body with powers of arrest, namely, the Office of the Director of Corporate Enforcement. Since the enactment of the Company Law Enforcement Act, we do not need to appoint a High Court inspector. What is this body doing? It has five solicitors, three accountants and detectives. It has powers of arrest but it is doing nothing. How many searches and arrests has it made? How many interviews has it carried out? It has the teeth to investigate this because part of its mission is compliance with company law. This is a clear breach of company law in that it is the worst possible case of false accounting. However, all this body is interested in is management companies, lights in apartment blocks, etc. and getting convictions in that regard.