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Fri 10 Oct 2008Lenihan says guaranteed banks were like orphans
SEANAD REPORT:THE BANKS that had been supported by the Government would have been "orphans" if such backing had not been given, Minister for Finance Brian Lenihan told the Seanad during the marathon debate on the Credit Institutions Bill 2008.
On the approach that had been taken by the Government, he asked if anyone believed that had they nationalised an institution, it would not have resulted in a run on all the institutions in a small country such as this.
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