Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

By end of your tenure it was out to 40 years, there was 100% mortgages, there was ... the ratios were eight to ten times people's incomes, and it goes on and goes on, and the fallout which is massive negative equity, because all of this credit and the relaxation of the application process to get a loan was becoming so stretched that more ... to keep up with the increasing prices of houses people were being facilitated more and more with a more elasticated product.