David Norris (Independent)

It is always refreshing and stimulating to listen to Senator O'Toole. It is a long time since I heard the word "tontine". The Dublin Tontine Society used to reside around the corner from me and from Senator O'Toole's distinguished union, whose history in this area I had not realised until now. It is very impressive.

Senator O'Toole's argument is very persuasive. Directors of banks would be in breach of their obligations to their investors if they acted in any other way than according to strict rules of capitalism. That is why I advocated full nationalisation of the banks. If the banks were nationalised, the Government could direct them to do whatever it wanted them to do. Is that correct?