Sir, – The Irish Times reports that some members of the Oireachtas committee are not willing to sign off on the banking inquiry report as it does not identify the causes of the crash ("Inquiry unhappy with banking report", December 7th).
The causes are surely well known – a government-operated pyramid scheme that required more and more people to buy more and more property in order to fund the exchequer which relied on taxes from property sales.
The Government used these taxes to reduce other forms of taxation in order to get re-elected and offered tax breaks in order to encourage people to join the scheme. Local and national politicians lobbied to ensure that the tax breaks applied to their areas so that these could participate in the scheme and they could also claim credit for bringing jobs to these areas.
All of this was much easier than planning a sustainable economy. – Yours, etc,
DAVID GEARY,
St Lucia.
Sir, – With the Oireachtas banking inquiry members having agreed the final draft report and with publication expected to be January 27th, how many leaks can we expect before then? – Yours, etc,
PATRICK WHELAN,
Mullingar, Co Westmeath.
Sir, – Whether or not he used astrology is unclear but, Terry Doyle (December 5th) has foreseen the contents of the Oireachtas banking inquiry report before it has been finished. Political point-scoring was noticeably absent from the public sessions of the inquiry, and the committee members of all political persuasions have shown a huge determination to complete the report. Maybe the alignment of public representatives can indicate the future better than the alignment of the stars. – Yours, etc,
PAUL FARRELLY,
Blackrock, Cork.
Sir, – An inquiry into the role of the banks and government officials into the greatest financial mishap suffered by the State since its founding was necessary – or so we were told.
It was crucially important to understand what had happened, who had made it happen, and what we might do to prevent it recurring. The public demanded it, the survival of democracy demanded it and, let’s be honest, blame needed to be apportioned.
I was never asked about the necessity for an inquiry. My extended family was never asked. Anyone I have ever spoken to about it was not asked. So, just who demanded one?
It doesn’t matter that half of those in the eye of the scandal at the time were not required to give evidence. Like it or not, we got a banking inquiry because the “committee” needed to keep it on the burner in order to maintain political profiles for the next election, and to hammer the Opposition with the results, which everyone is already painfully aware of.
Does anyone really think that the result that is now being cobbled together will make one jot of difference?
Fold up your tents, please, go home, and leave us to our fate in peace. – Yours, etc,
ROY STOKES,
Dublin 12.