Thursday, December 24, 2009

FW:Call to Investigate the banking Crisis by oireachtas Committee

A young journalist named Gavin Sheridan keeps a weblog I follow, simply titled Gavin has the tenacity, curiosity and hunger of a true investigative journalist. I dont agree with a lot of his political views. I suspect his vision of Ireland's future is of a society a lot more left-leaning and interventionist than my vision.I believe in a future ideal of an efficient, productive, food and technology driven, pro-enterprise and small-government, island. We are at the mercy of global economic tides. We are strategically positioned but on a global scale we are no more relevant than a filling station on the Mullingar bypass; It is our passing traffic and footfall that matters. Should we cease to give global travellers what they need they will keep moving to the next turnpike. Our economy is "open". What does this mean? It means we rely on imports and exports to give all of us the wherewithal to maintain a first world society. It is in that context that the analogy of Ireland as a global petrol station must be viewed. We have to adopt the flexibility and all the other characteristics of a small well-positioned business setting out our stall for passing trade.  
Most of my posts are informed by this vision of Ireland's best future and by the view that we need to get more productive, get our people working usefully, use the assets we have of good land, good food and great entrepreneurs. THAT future of Ireland, the lean global trader depends on better corporate governance, accountability in public life, social pluralism and a state with moral as well as civil authority.
gavinsbolg 21/12/09 is worth a look. He catalogues a trail of investigative journalism into bad banking practice and irresponsible regulatory inaction tracing back to 2005.
I have set up a facebook page Call to investigate the Banking Crisis by Oireachtas Committee. I am sick of the party that I once felt an ideological affinity with, responding inadequately or equivocally to the moral ambiguities that have typified much of Ireland's social structures. Colloquially I have recently commented that the country needs to be now taken apart and rebuilt. In a manner of speaking I do believe that reforms of government, civil service, church, banking, corporate governance are now needed on a scale that will change the shape of an already rapidly changing society. These are reforms that need to be led by the moral, tolerant, Right-centred, decent and enterprising people of Irish society. have a look at my facebook page and join this debate.


Date: Tue, 22 Dec 2009 07:13:09 +0000

The Regulator

Posted: 21 Dec 2009 02:41 PM PST

I don't want this post to seem like an "I told you so" post. But it might appear that way. I started back in 2005. One of the biggest issues myself and my uncle Anthony covered, and still cover on that blog, is the lack of regulation of the banks. And when the country was in a credit boom, and nobody, or at least very few, were asking questions about regulation of the banks, myself, and to a much deeper degree Anthony where highlighting this issue ad nauseum. Almost all of these posts were also copied to the office of the Financial Regulator.
August 22, 2005 Toothless IFSRA
August 25, 2005 Allied Irish Banks investigates itself
September 28, 2005 Banana Republic
October 10, 2005 Irish/Italian accountability
November 15, 2005 The sheriff is not for the good guys
December 13, 2005 Irish (Banks) Mafia
December 23, 2005 Legal actions, dodgy dealings and resignations
January 9, 2006 The (Irish financial) Wild West Show
March 24, 2006 Still waiting for law enforcement
March 26, 2006 Former AIB executives settle with Revenue for €323,313
June 7, 2006 Ireland – The Wild West of European finance

August 1, 2006 Irish Financial Regulator – Bizarre and toothless
August 2, 2006 Rampant corruption – rampant profits
September 28, 2006 A corrupt state
October 13, 2006 Bank robbers and bank robbers
December 12, 2006 Failing to make connections
December 14, 2006 Maintaining the illusion
January 23, 2007 State contempt for consumers
March 20, 2007 Irish Financial Regulator – Betraying the consumer
April 4, 2007 The Financial Regulator, banks and credit unions
April 25, 2007 Insider watchdog
May 3, 2007 It's all in the mind
June 17, 2007 AIB: Still ripping off customers with impunity
June 13, 2007 Man of steel turns to straw
August 23, 2007 A corrupt and secretive financial market
August 21, 2007 Dublin – A conduit for dodgy deals?
August 27, 2007 Dublin operation – A sloppily-run pig sty
And that's just the first two years of blog posts. Never let anyone tell you that no one could have seen what was coming.
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