An interview with then Taoiseach Charles Haughey on September 22nd, 1991 by Sean O'Rourke on RTE's This Week programme resonates bitterly with today's events, and shows how far this country has come in eight years. It also highlights the fraud that was Mr Haughey himself.

Q: Do you agree with yesterday's Irish Independent when it says that something is rotten in the world of high finance; and today we have the Sunday Business Post saying there's the stench of corruption?

Mr Haughey: "I don't agree with that at all. I think that's very unfair, that's going grossly over the top. For heaven's sake, look around the world, look at London city, the financial services situation in London, say, look at New York, I mean there are scandals a day over there, monumental scandals which makes anything that happens here in the ha'penny place. "But it is very disappointing. We are now developing a reasonably sophisticated financial services sector here in this country and it would be deeply disappointing if there was anything of that aura about it. We must, must decide that that's just not going to happen. . .

"We don't really have the sort of mechanism they have in other countries for dealing with major serious financial fraud. We're not equipped to deal with it and these recent events have shown that.

"We have of course the Companies Act, we have a very modern companies administration system now, but again that's limited to fraud or malpractice in the company area. But I think there is something much wider and comprehensive than that needed. . . an office under the Attorney General."

Q: With what kind of powers?

Mr Haughey: "Oh, with complete powers. Powers to go out and not wait for fraud to happen to investigate, but powers to investigate if they suspect fraud anywhere. That's the important thing. You see, to a large extent the gardai only come in when fraud has happened."

Q: And to send for papers and persons and be able to compel people to give evidence?

Mr Haughey: "Oh, absolutely, yes, total, full powers."

Q. There is a thin line between interfering "in State companies" and knowing what's going on and the point has been made that these things were happening under your nose and you didn't know about them and you should have known about them.

Mr Haughey: "No, listen, you couldn't. No. That is absurd. Even the board of directors of Greencore didn't know about them. And how could a Government at one remove know about them? "No Government can anticipate, or know, or prevent serious fraud if clever people are determined to commit fraud."

Mr Haughey must have seen himself as a clever man.

This was also the occasion when Mr Haughey suggested that Dr Michael Smurfit and Seamus Pairceir should "step aside" from their chairmanship roles and that IBI and NCB should relinquish their commissions. "I say all that without making any implication, the slightest scintilla of suggestion that there is anything wrong. . . but if that advice and that suggestion of mine is not taken up, then I'll have to see," he said.

It is we who see now. The Ireland that Mr Haughey stalked over and defrauded is old Ireland. The traumas of banking and tax fraud, child abuse, and public health negligence are the uncovering of the failures and hypocrisy of what is now an older and past, or soon to pass, generation of leaders. Guilt, revenge and hate are mixed with justice and righteous anger in the opposing sides of the generation that is fighting its last battle, the battle to shape history. Those under 35 or so watch and are not participants. This is not to say that we do not recognise the benefits reaped from the good fight being won.

"A very respectable businessman" is old Ireland; a successful entrepreneur is new Ireland. Exchange controls and high taxes are old Ireland, capital freedom and low taxes are new Ireland. Begging for a bank loan is business in old Ireland, going to stock markets or venture capitalists is new Ireland. Cartels, quasi-cartels and protected margins are old Ireland, competition and low-cost pricing is new Ireland. Protected domestic industries are old Ireland, international manufacturing and traded services are new Ireland.

Official secrets are old Ireland, freedom of information is new Ireland. And as regards the public mood, burning down the big houses and sticking heads on the gates of Dublin Castle are old Ireland, the rule of law - including tax compliance - must be new Ireland.

Oliver O'Connor is managing editor, Fintel Publications