Deputy Sherlock said: "Michael Ahern's claim that there is no need for a banking inquiry because the public know what went on is astounding. That is not the reality for any constituent who has called to my office."There is a huge public demand for an inquiry that establishes who is to blame for the crisis facing our financial sector and roots out the causes of this mess so we legislate against it happening again."

Despite what Deputy Ahern claims, the public are not well aware of the practices that were carried out at the banks. The Prime Time Investigates programme, which revealed the practice of fast tracked loans to senior politicians, for example, shocked and angered many."

As Chairman of the Oireachtas Finance Committee, Deputy Ahern may not wish to hold such an inquiry. I can assure him, however, that as a member of the Joint Committee on Economic Regulatory Affairs I would be only too happy to accommodate an inquiry. I believe that if my committee is given powers to compel witness co-operation, an inquiry can be held in a practical manner at minimal public expense, similar to the DIRT inquiry of the 1990s."

Deputy Ahern's comments are typical of his party, a party that holds vested interests above the public interest. Last September Fianna Fáil's other TD for Cork East, Ned O'Keeffe, backed NAMA in the Dáil."In the Dáil Deputy O'Keeffe said, and I quote 'It is with great pride that I support my Minister, Deputy Brian Lenihan, in introducing this wonderful and badly needed rescue of the economy, property developers and the banking system.'

"Deputy O'Keeffe also went on to say that 'It is important that small shareholders be looked after. I am a shareholder in both of the banks in question.'

"These same deputies failed to 'look after' the blind and disabled who had their allowances cut in the last budget. Both Deputies Ahern and O'Keeffe both gave their backing to a budget that reduced the modest incomes of lower paid public sector workers.

"Both are more concerned with looking after bankers and shareholders who enjoyed the spoils when the going was good, but now want their risks 'looked after' by the taxpayer."