The Tánaiste referenced very important legislation coming before the House today. This is the Central Bank (Supervision and Enforcement) Bill 2011. I commend the Minister for Finance on his openness to accepting amendments. Given the discussion we had, what does it really mean? We can give all the powers we want to the regulator but the Government is unwilling to ask a public interest director in a State-owned bank who did not inform the Central Bank, which is the regulator, that tapes exist with recordings of individuals which are now deemed serious by the Central Bank and are being looked at for regulatory breaches.

That is not a matter for the Order of Business.

What is the point of this Bill if we have a Government that is unwilling to lift the phone to a former Minister for Finance?

He was paid by the State to be a public interest director for the past four years.

Does it not send out a negative signal about the Bill, which is an important and good Bill?

The Deputy can raise it in another way.

We should try to tighten up enforcement and regulation in the banks.

I will tell Deputy Doherty what it means; it means Sinn Féin got it wrong twice. It got it wrong first when it fell hook, line and sinker for what the guys on the tapes were asking for, which was a bailout for Anglo Irish Bank. Sinn Féin agreed with it, voted for it and praised it.

No we did not.

The current Government extended it.

It got it wrong a second time when it opposed this Government's Bill to liquidate Anglo Irish Bank.

Will the Tánaiste lift the phone and ask the public interest director? This did not happen five years ago. Up to five months ago the public interest directors did not inform the Central Bank-----

Deputy Doherty is wasting-----

-----of potential regulatory breaches of which they were in charge.

The Chair-----

The Government is refusing to contact the banks because it is protecting the political elite-----

Deputy Doherty should resume his seat.

A former leader of Fine Gael, a former Minister for Finance, and a former Fianna Fáil Senator are on the board of a State-owned bank which did not inform the Central Bank of potential regulatory breaches up until five months ago.

The Deputy is wasting the time of his colleagues.

It is absolutely disgraceful. We do not need an inquiry to find out this information.

I call Deputy Mattie McGrath.

Deputy Doherty is all mouth and however loud he shouts, the fact of the matter is Sinn Féin got it fundamentally wrong in 2008 and fell for what those guys on the tapes said.

The lies they were telling. Use the word.

They were looking for a bailout from the Irish taxpayer and Sinn Féin fell for it hook, line and sinker. It is about time Deputy Doherty explained and apologised to the Irish people for doing so.

Make the call. The Tánaiste will not make the call because he is protecting vested interests.