Sir, – The political discussion around the need for a banking inquiry ignores the fact that we have already had two reports into the origins of the banking crisis. There is the preliminary report by Regling and Watson, and the Nyberg Report which was a Commission of Investigation under the 2004 Act . These are illuminating reports written by internationally eminent economists and are accessible on bankinginquiry.gov.ie.
If politicians would bother to read them, they would reconsider the clamour for a rerun of the Oireachtas Inquiry Referendum or the need for an Oireachtas Committee.
It would be better if, instead of the public expense particularly through litigation that either course would involve, some cuts to the budgets of the Office of the Director of Corporate Enforcement, the DPP and the Garda Síochána were reversed. Accountability and future deterrence would be better served by prosecution. – Yours, etc,
BRIAN DINEEN BCL (Int)
College Grove,
Camden Town,
London, England.
Sir, – Some will remember the old cowboy films where the baddie would be told, “You’ll get a fair trial before we hang you”. The Taoiseach’s comments concerning a Dáil inquiry into the 2008 fallout,with his fingering of Fianna Fáil as colluding in the problem, was pump politics, not befitting the leader of our Government. Maybe he is still back with the cowboys. – Yours, etc,
TED O’KEEFFE,
Sandford Road, Dublin 6.
Sir, – The perception of Ireland is now one of a tax haven where miscreant bankers and their cronies delight in, and get away with, destroying people’s lives through personal financial and wider economic meltdown.
It is time to admit the wrong- doing of the not-so-great and good in our society, in whom we trusted, and transmute the poisonous business climate of unbridled greed into one of sincere, ethical, authentic industry. – Yours, etc,
EILEEN 0’SULLIVAN,
Bray Head Terrace,
Bray, Co Wicklow.
Sir, – I do not imagine that many intelligent people outside our governmental system would have been surprised by the recent Anglo Irish Bank revelations.
The contempt of the banks for decent people (wrongly) and for politicians (rightly) has been evident for many years. This merely confirms what most people suspected and what most senior politicians were pretty certain about but did not want to come out.
To prove that the banks were right to have contempt for politicians, we can now all sit back and watch nothing happen to the banksters. – Yours, etc,
RD BANTON,
Kevin Street,
Tinahely,
Co Wicklow.
Sir, – Through greed, incompetence and negligence a few hundred people have set this country back decades in economic and social terms, and have sullied its international reputation. In the few cases where “sanctions” have been applied, they have amounted to big pensions and fat payoffs instead of sanctions and reparation.
Notwithstanding the magnitude and duration of the crisis, we still have no clear plans for a proper public banking inquiry. As in other countries, a comprehensive, lawyer-free and apolitical inquiry could expose systemic failures and serve as a pathfinder for possible prosecutions. To progress this, last year’s referendum on Oireachtas inquiries should be rerun in lieu of the planned Seanad referendum.
Because white-collar crime can be extremely difficult to prove due to its complexity, wriggle room and “memory lapses”; civil actions, as an alternative to criminal prosecutions, could be initiated against the key individuals against whom adverse inquiry findings are made. This route could reduce the burden of proof, speed up collection and presentation of evidence and reduce the duration and complexity of legal actions. – Yours, etc,
BRIAN FLANAGAN,
Ardmeen Park,
Blackrock, Co Dublin.
Sir, – The outrage being caused by the dismissive opinions being expressed by powerful people in financial institutions in the middle of a financial collapse is understandable. However, since this outrage is being expressed a decade or so after the decisions that caused this country to become bankrupt, it is also futile.
It is an unfortunate, basic law of human behaviour that, unless they are held to account, people with power abuse that power.
During the Celtic era in this country there was little attempt to hold to account the people in powerful positions in government, financial institutions, etc. They were regarded as masters of the universe and unchangeable.
The few who shouted stop were scoffed at and taunted for their powerlessness. The result is a bankrupt country. The present media campaign stoking up outrage is a waste of time and energy. That time and energy should instead be directed towards solving the problems caused by the excesses of the past. – Yours, etc,
ANTHONY LEAVY,
Shielmartin Drive,
Sutton, Dublin 13.
Sir, – Is there an old treason law hanging around from our centuries of English occupation? Hopefully it could be re-enacted and applied towards the extreme acts against our nation by some senior bank executives, certain politicians and others! – Yours, etc,
KEITH NOLAN,
Caldragh,
Carrick-on-Shannon,
Co Leitrim.
Sir, – Does Edward Snowden have any Anglo tapes? – Yours, etc,
FERGAL McCANN,
Anner Road,
Inchicore, Dublin 8.
Sir, – In 1721, Jonathan Swift satirised the formation of a National Bank in Ireland . . . through a biography of his posterior. Given the revelations of A**egate, I guess it’s a case of: different era, same crap! – Yours, etc,
MARK LAWLER,
South Circular Road,
Kilmainham, Dublin 8.
Sir, – Were the Anglo tapes recorded for training and quality control purposes? – Yours, etc,
ANDRÉ CAVANAGH,
Cherrywood Park,
Clondalkin, Dublin 22.
Sir, – If there isn’t already a law against conspiracy to obtain money by deception then it seems to me that there ought to be one. – Yours, etc,
BERNARD KEOGH,
Dollymount Park,
Clontarf, Dublin 3.
Sir, – In view of the current banking revelations, what does a citizen in this country have to do to be guilty of treason, or for that matter of fraud? – Yours, etc,
MAURICE BYRNE,
Churchview Road,
Killiney, Co Dublin.
Sir, – A German bondholder's rejoinder to John Bowe's derisive "Deutschland, Deutschland über alles" remarks: "Sinne Fianna Fáil!) – Yours, etc,
PAUL DELANEY,
Beacon Hill,
Dalkey, Co Dublin.
Sir, – Anglo’s Messrs Bowe and Fitzgerald have apologised for the tone of their recorded remarks. While the tone may be unfortunate, it’s the substance that’s the real problem. – Yours, etc,
AIDAN WARD,
Woodbine Road,
Blackrock, Co Dublin.
Sir, – Some of the terms of the Haddington Road Agreement will commence from July 1st. These include an extra two-and-a-half hours per week for public servants. This is a direct result of cutbacks in the public service which were necessary to service the debts incurred to bail out the banks. While civil servants, nurses and other public servants toil the extra hours, they should be painfully aware that those who caused the bank debt are enjoying their massive payoffs and pensions. Probably laughing all the way from the bank. – Yours, etc,
DECLAN ROCHE,
St Marys Road,
East Wall, Dublin 3.
Sir, – I hope the Oireachtas does not launch a banking inquiry. It is far too complex and important an issue to be investigated by that dysfunctional organisation that is too easily swayed by public opinion. – Yours, etc,
COLM BERGIN,
Grand Canal Street,
Dublin.
Sir, – The revelations contained in the Anglo Irish Bank tapes beg the question: have the authorities moved to secure the tapes of all the banks and building societies covering the run-up to the bailout and immediately thereafter? Because as we all know, if they have not, then the tapes will have been mysteriously “lost”. My money is on the financial institutions! – Yours, etc,
MIKE CORMACK,
Ardagh Close,
Blackrock, Co Dublin.
Sir, – Now can we see the handcuffs please? – Yours, etc,
TIM COSTELLO,
Granville Road,
Cabinteely,
Dún Laoghaire, Co Dublin.