Wednesday, October 8, 2008

The Untouchables

There appears to have been an unhealthy relationship between the banking executives / directors , the Financial Regulator , the Central Bank , and the Dept. of Finance . All colluding to tell the poor fools of taxpayers that ''all's going well , my Lady Montmerency '' when they saw or should have seen , this banking , now financial , disaster coming .
These people were not necessarily dishonest , just unbelievably arrogant , because this interchangeable club of insiders believed that they knew it all .Some bank 'chiefs ' were former senior civil servants , who presumably were appointed because of their 'connections ' .
These people considered themselves untouchable as far as our society was concerned .
Maybe now is the time for another group of ' UNTOUCHABLES ' to be formed , as already suggested by David Mc Williams . Just as Elliot Ness formed his Untouchables when tackling gangsters and police corruption during Prohibition in the US , we in Ireland should cast around for (say ) 12 men (or women ) , who are above Politics , have a track record of experience in financial affairs , have already gained the trust of the general public ; not politicians , not bankers , not civil servants , but people of courage and trust etcetc....I'm sure we can all call to mind at least some in our society who fit the bill......these untouchables should be placed on the boards of each of the banks that the taxpayers are now covering , and be given strong regulatory powers and responsibilities ....and only then let the banks continue their business , with the current hydra-heads being chopped off of course......

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