Madam, – Certain commentators are taking a barely hidden delight in Seán FitzPatrick’s bankruptcy. Others lament that he will still enjoy a standard of living that well exceeds that of the 450,000 on the live register. Mr FitzPatrick was greedy, as was the board of his bank, shareholders and bond holders. He has, to an extent, been held accountable and cast adrift (albeit, with ample provisions).
Mr FitzPatrick’s disgrace and humiliation should not in any way distract us from asking why reckless Anglo bondholders are being propped up by our Government who chose to nationalise a pyramid scheme masquerading as a bank on the word of its management. Mr FitzPatrick’s failings are not the real story here. – Yours, etc,