Lisa McDonald (Fianna Fail)

Yes. It has the teeth but it appears another part of its anatomy is missing. Will the Leader find out why for me and the public?

Senator Paschal Donohoe mentioned the FBI. The best organisation in this country for enforcement and compliance is the Criminal Assets Bureau. It is the organisation that can deal with such issues. All these little people have failed the State, including the Office of the Director of Corporate Enforcement. I want to see all these agencies abolished and brought under the umbrella of CAB, which should do the work so at least the Irish people know what is happening.

If we do this as a nation, we are effectively saying we have recapitalised our banks, dealt with many of the issues and know about the disgusting behaviour that has been going on in the banks regarding the finances of the people of Ireland. I do not consider those with pension investments in Irish Life & Permanent are small people. The small people in all this are the directors of the bank because they are the ones who have not stood up and been counted and they are still hiding away.

I want a debate on regulation. Do we need to go back to the 1930s and the commission of Mr. Joseph Kennedy or would CAB suffice? We need to shut down the Office of the Director of Corporate Enforcement, revamp it or let it use the liathróidí it has.