Reports on banking crisis

Madam, – Congratulations to Central Bank Governor Dr Patrick Honohan and his team.

Madam, – Congratulations to Central Bank Governor Dr Patrick Honohan and his team.

Brian Cowen says, “The outcome that we now face is a very challenging one for all our people and I deeply regret that” (Home News, June 10th). I don’t want his regret; I want an apology, a resignation and a refund. – Yours, etc,

PETER LYDON,

Woodford Drive,

Clondalkin,

Dublin 22.

Madam, – In light of the Honohan report and its confirmation of the obvious, we need a total realignment of societal representative governance and core executive propriety.

Vincent Browne (Opinion, June 9th), offers a totally persuasive pitch for authentic alliances to conjure an “opportunity to reshape this society, making it more democratic, fair and equal, and giving it a robust sense of solidarity”. No sane or caring person could challenge this call to collective arms of linked purpose and national social justice.

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This blueprint idea shouldn’t be relegated to oblivion as hot-air musings. Instead, it should be taken to heart by all sincere human beings in this State. Radical democratic thought and creative social recalibrations are so urgently required.

The humane “algebra of decency” demands such – and how!   – Yours, etc,

JIM COSGROVE,

Chapel Street,

Lismore,

Co Waterford.

Madam, – I always understood that if somebody in a senior position in a business made a serious error the person was either sacked or promoted to a position where he could do no further damage. The Irish solution is to make him taoiseach. – Yours, etc,

DAVID MURNANE,

Dunshaughlin, Co Meath.

Madam, – The two reports on the causes of the economic crash do not make for surprising reading for most people. What is most enlightening, however, are the attempts by this Government to ensure that the details on its responsibility in this crisis are not given full airing.

In effectively gagging the Dáil on the week of the reports’ release, and also not allowing the subsequent commission to consider Government fiscal policy in its scope, it highlights how it will always put the status of Fianna Fáil before the interests of the country.

It is seriously damaging to our democracy when a Government which no longer commands a mandate from the people will effectively censor information that is potentially damaging to its re-election prospects. – Yours, etc,

BARRY WALSH,

Church Road,

Blackrock,

Cork.

Madam, – The present Government has no mandate from the people. It has presided over the biggest economic collapse in the history of this State. Without seeking a mandate from the people it imposed draconian measures directed mainly at the lowest paid and most vulnerable while protecting the best paid and allowing those responsible for the reckless lending within the failing banks to go unpunished.

Until these reports were published it fed us the lie (Cowen’s “narrative” ) that our economic difficulties were due to international problems outside our control. The two reports identify three main causes: reckless lending by the banks, failure of banking regulation and the Government’s fiscal policies, especially since 2000. As the Government is ultimately responsible for financial regulation and appoints the regulator and the board of the Central Bank, the banking reports actually find the Government responsible for two of the three causes.

Yet this Government ordered a change in the Order of Business in the Dáil this week in order to prevent parliamentary questions and debate on the most important publications since this crisis broke. Further, the Government is intimating that the next phases of this investigation will not include any further investigation of Government.

In addition, this unelected government is steadfastly refusing to hold three long overdue byelections and this can be only because it fears defeat. The hallmarks of dictatorship are muzzling the opposition, as is happening this week through interference with the Order of Business, refusal to tolerate criticism of government policy, which will happen if the terms of reference of the forthcoming commission are to be restricted, and refusal to hold democratic elections. – Yours, etc,

A KEHOE,

Castleknock,

Dublin 15.