Seanad report: An acrimonious exchange between acting Seanad chairman Mr John Dardis (PD) and Ms Mary White (FF) ended on a somewhat harmonious note when she referred to piano lessons they had shared as children.
The discord, which led to a brief suspension of the sitting, came when Ms White referred to a sub-section of the Company's (Auditing and Accounting) Bill, which was being debated at report stage.
Mr Dardis said none of the amendments under discussion was relevant to the sub-section.
Ms White said she had been in the House for a lengthy period while the Bill was being debated and she knew what she was talking about. Mr Dardis said the senator would be allowed a certain latitude.
Ms White said she knew from her own experience that there was "a golden circle in this city. It is made up of the same people who sit on the boards of large companies in this country."
If certain companies had been watching the escapade of Nick Leeson in Barings Bank there would not have been a problem with Mr Rusnak, she said.
There was a problem with the same law applying to companies of different sizes. Some did not have the staff to deal with all the regulations that were being brought in. It was wrong to put in place excessive regulations regarding directors, who were desperately needed.
Ms White said that in 50 years' time people would regard this generation as barbarians because we put only the poor in prison.
Mr Dardis advised Ms White that she was making a Second Stage speech. "You will stick to the amendments and will conclude." Ms White: "I can say what I want to say." Mr Dardis: "I beg your pardon, you can not."
Ms White: "You will have to get used to it, chairman."
Following further exchanges, Mr Dardis suspended the sitting for five minutes.
Later, Ms White said she meant nothing derogatory in her remarks. "I have known the acting chairman since childhood, when we both learnt piano side by side with the nuns in Newbridge."
Mr Paul Coghlan (FG): "We learn something new every day".
On the debate, Mr Dardis said it was a long-standing tradition of the Oireachtas that persons outside the House who were not in a position to reply should not be attacked or referred to in a manner whereby they could be identified. Mr Joe O'Toole (Ind) said he was worried members had made remarks about the largest public listed company in the State at a turbulent time in international markets.
"The house should disassociate itself from any views that the directors of that company - who I have the fullest confidence in - should be held responsible further than what has been done previously ... The chief executive and the chair of AIB have acted to the best of their abilities in discharging their duties."