Madam, – Ireland gets into trouble but can go to Europe for a bailout, and get it. Irish banks get into trouble and can go to the government for a bailout, and get it. Mortgage holders get into trouble and go to the banks for a bailout and get their houses repossessed. I suppose Colm Doherty’s 2010 pay packet has to be funded somehow (Front page, April 19th). – Yours, etc,
Madam, – The €3 million payment to the departing AIB managing director last November is an absolute disgrace. He was an internal candidate who was part of a management team that allowed the bank to fall to pieces and yet walks away with €3 million, while 200,000 Irish people are struggling with basic household bills. The bank reported a pre-tax loss of €12 billion for the year last week. What management performance is the pay for (in the context of AIB as a nationalised zombie bank that doesn’t lend and is only surviving on State bailouts)? – Yours, etc,
Madam, – The payment of several million euros to the former managing director of AIB represents an incredibly poor return on investment. I am sure there are thousands of people in the country who would have been prepared to mismanage the bank, resulting in billions of euros of debt, and the ultimate impoverishment of the country, all for a quarter of what Mr Doherty was paid. – Yours, etc,