Marie Louise O'Donnell (Independent)

When I get the opportunity to speak about the greatest transfer of debt from the private sector to the ordinary taxpayer I find it hard to remain calm and calculated. I refer to the Irish banking scandal. It is beyond a scandal and is an affront to ethics, democracy and the morality about which Senator McAleese spoke in reference to another area. I find it even harder because we in the House speak constantly and consistently about human rights.

I would like to ask about the financial human rights of the citizens of Ireland who have these banking albatrosses on their backs. I would also like to ask about our human rights when, as working people, we have to witness no change in the status of the executive of the Bank of Ireland. There is overweening pride, arrogance, circles of protection and an attitude that one is worth €500,000 a year and can forget to tell the taxpayer about the €66 million in bonuses which continue to be paid. I run out of the language of outrage about their morality.

I ask the Leader to invite the Minister for Finance into the House to explain why the junk status directors and executive of the Bank of Ireland are still in charge. I call them "junk status executives" because they were driving the truck when it crashed and are still driving it. It is as simple as that and I would like that question answered by the Minister.

I would also like to ask the Minister for Finance why the bonuses and salaries of the Bank of Ireland executive have not been wiped out or cut in ribbons. The Bank of Ireland excuse is that these kinds of banking salaries and bonuses are the life breathing work of the bank and if the work is to be done it requires salaries of a high-level. It is argued that the bank will not function without them. That is hilarious. We now own 36% of the bank and it will soon be owned by the State. The sight of Mr. Molloy, flanked by Mr. Ritchie Boucher-----