Sir, – I thought Anglo, etc, had just cost us billions of euro, from which we would eventually recover. The taped conversations and the understandable international reaction to it bring to mind Iago’s words in Othello:
“Who steals my purse steals trash; ’tis something, nothing; ’Twas mine, ’tis his, and has been slave to thousands; But he that filches from me my good name Robs me of that which not enriches him, And makes me poor indeed.” – Yours etc,
FINTAN GIBNEY,
Glasnevin Hill, Dublin 9.
Sir, – The release of the contemptible Anglo tapes just as the EU is giving consideration to retrospective funding of failed banks seems more than mere coincidence. One has to ask who would benefit from these tapes contributing to a refusal from the EU to compensate the Irish State for pouring taxpayers’ funds into Anglo, AIB, etc? The obvious answer is private business interests which would make huge “moolah” by buying at a discount from the strapped State AIB and Bank of Ireland just as they are returning to profitability. I find it frustrating that our standing army of public commentators and columnists are making nothing of this very basic question. Is there a wider conspiracy? – Yours, etc,
PATRICK COTTER,
St Stephen’s Street,
Off Tower Street, Cork.
Sir, – Why would German buyers buy from Ireland and why would international investors invest in Ireland, given the insulting contemptuous arrogance displayed by some of our bankers on the one hand and the limp-wristed legalistic response of our political leaders on the other?
Five years after the collapse of our banking system, and three investigations later, politicians are still discussing the form of another investigation which should, could or might take place.
The revelations will make business more difficult for those trying to maintain exports and keep our country afloat. We are officially in recession and our manufactured exports are falling. We are facing a national emergency. Could we hope for something more than political infighting and an analysis of our leader’s DNA? – Yours, etc,
COLUM MacDONNELL,
Gowrie Park,
Glenageary, Co Dublin.
Sir, – Enda Kenny and other TDs have claimed they understand the public’s rage at the content and tone of the Anglo tapes. I hope they also appreciate the damage these revelations are doing to people’s emotional and spiritual well-being, especially the many who are facing the threat of losing their homes due to the past mismanagement of our economy by both politicians and bankers.
How truly disgusting and disheartening the contents/tone of these recordings must be for these unfortunates.
These negative feelings can only be compounded by the current political grandstanding and finger-pointing. The politicians’ mantra, “We cannot do anything about it at the moment due to legislative restrictions” adds further insult to injury.
When terrorism threatened the security and well-being of the State, our government was able to bring in special powers aimed at protecting our democracy, our citizens and the stability of the country. Surely it should also be able to enact special powers to deal with this crisis, which is no less a threat to the State and its people in several areas.
The current public perception, or as politicians like to call it, “the optics”, is that those responsible will most likely get away scot-free. The Irish people not only have the right, but also the need, to see the Government take immediate action to bring those responsible to book and to ensure this never happens again.
Therefore I believe special courts should be set up and empowered to subpoena all involved and demand all related information from the period. If bankers/politicians are then found to be guilty of fraud, deception (some would say treason) then the courts should not only be in a position to imprison these people but also to reclaim their ill-gotten gains (bonuses, golden handshakes and large pensions).
If prompt and effective action is not seen to be taken there is a real and present danger that an increasing number of our fellow citizens in dire financial straits will experience severe levels of emotional and spiritual suffering, no doubt sending some of them over the edge of despair. – Yours, etc,
FINNIAN E MATHEWS,
The Park,
Skerries, Co Dublin.
Sir, – It is stated in the Financial Stability Report 2004: “Section 7 of the Central Bank and Financial Services Authority of Ireland Act, 2003 includes the objective of ‘promoting the efficient and effective operation of payment and settlement systems’. At a domestic level, regulation (or ‘oversight’) of payment systems is principally aimed at promoting the orderly functioning of such systems, thereby minimising systemic risk in order to protect the banking system as a whole from the possible ‘domino effects’ that could occur if one or more of the credit institutions participating in a payment system were to encounter credit or liquidity problems.”
ICTU general secretary, David Begg was a director and member of the board of the Central Bank from May 12th, 1995 until summer 2010, a period of 15years. His tenure covered the period between 2003 and 2008 when that body allowed banks to borrow huge sums abroad, a circumstance which has now led to the insolvency of all major banks. It also covered the period in which the individuals who feature on the recently published Anglo Irish Bank tapes interacted with the Central Bank. The blanket bank guarantee also occurred during his period in office.
David Begg was a very senior member of the board of the Central Bank. He was chair of its audit committee/audit and risk management committee on which three members of the regulatory authority also sat.
Mr Begg has a duty to make an early statement to Irish workers in which the role of the Central Bank in the banking catastrophy is clarified. – Yours, etc,
PADDY HEALY,
(Former President TUI),
Griffith Court,
Fairview, Dublin 3.
A chara, – It is nearly a week since the obnoxious Anglo tapes revelations started and I have still not heard of any extradition request from our Government for David Drumm from the US? It is also very obvious from the “performances” in the Dáil this week that there is neither the political will nor the competence to get proper justice for the Irish taxpayer.
The impact of Anglo on our State has had severe consequences on thousands of individuals, and will continue to do so for many generations to come.
For this reason, I believe it is vitally important that an external police force, with an exemplary and even terrifying reputation is invited into Ireland by the Irish taxpayer to thoroughly investigate what actually happened to our entire banking system, not just Anglo. It should be given any powers it needs to find every person that was (ir)responsible and then let this law enforcement agency make recommendations on what would be appropriate punishments for those found honestly guilty and let us the Irish taxpayer ensure that these punishments are deservedly enforced. – Is mise,
JASON POWER,
Maxwell Road,
Rathgar, Dublin 6.
A chara, – I sometimes fantasise about living in an accountable society, where bankers who deceived us are publicly tried. In this reverie, their motives and misdeeds are exposed, and they are sentenced to seven years in prison. As they are led away, their chief complaints to the presiding judge (for it is me) that “this case is unprecedented, so how have you arrived at a figure of seven years?” “Oh”, I say, “I just just pulled it out of my arse.” – Is mise,
GLENN CAHILL,
Willbrook Park,
Rathfarnham,
Dublin 14.