Paul Coghlan (Fine Gael)

I have. First, I second the amendment to the Order of Business proposed by Senator Twomey. I fully agree Senator O'Toole. I join other Senators in congratulating all those appointed yesterday, particularly the Kerryman who is not representing County Kerry but a Dublin constituency.

Returning to what Senator O'Toole said, we must have an interest in what has happened in Anglo Irish Bank, now a nationalised State-owned bank, for which we have had to provide great support. Apart from the bank guarantee and the ongoing recapitalisation, we must note, as the Senator said, what has happened, for which we want a proper explanation because - even if it is the rate for the job in the 70 cases or whatever is the precise number involved - it is sending the wrong signal at a time when we are trying to achieve change and necessary readjustment. It is a bit rich for the Department to state the Minister has no responsibility. Of course, we have a responsibility and must have an interest. The Department must have an interest and perhaps exert more control, particularly through the appointment of public interest directors, a number of whom are in place in the various institutions. The State is obviously entitled to more by virtue of what has happened in the ongoing recapitalisation programme which is so necessary.

While I know it is not true in the case of Anglo Irish Bank, there is too much of an overhang from the risky lending that wrongly took place and which brought us to where we are. There are too many people still in position both at board and senior management level in the banks now that we have public interest directors. It is wrong and the Department and the Minister are not exercising the necessary control and influence in that regard.