The Margin could not help marvelling at the wonders of capitalism during the recent annual general court of the Bank of Ireland. Up on the podium among the court of directors were two business people involved both in getting people hooked on tobacco and looking after their health. Margaret Downes, a director and a former deputy governor of the bank, is chairman of Gallaher (Dublin) Ltd, makers of Silk Cut cigarettes.

She is also a director of BUPA, the British health insurance company currently battling with the VHI for the privilege of looking after the nation's health. Laurence Crowley, another director and former deputy governor of the bank, is chairman of PJ Carroll and Rothmans International. He is also, astonishingly enough, a director of the Elan Corporation, the company famous for inventing the nicotine patch.