independent.ie/national-news … 81247.html
By DANIEL McCONNELL Chief Reporter and WILLIE KEALY
Sunday April 15 2012
Former Taoiseach Brian Cowen, ex-bank bosses Eugene Sheehy and Brian Goggin, and former top government official Kevin Cardiff will be compelled to reveal their role in the night of the infamous bank guarantee.
Four years on, the full details of Ireland’s catastrophic collapse have yet to emerge, but the Sunday Independent has learned that a “no-holds-barred” inquiry is to proceed within a matter of months.
For the first time, it is planned that those who were most centrally involved and who have since retired on six-figure pensions, will be forced to account for their actions.
A huge majority of the Irish public, 84 per cent, are demanding that a fully transparent inquiry into the banking collapse now take place, according to the latest Sunday Independent/ Quantum Research opinion poll.
Despite the public rejection of the Oireachtas Inquiries Referendum last October, the Public Accounts Committee (PAC) is to submit detailed plans in the next two weeks to Minister for Public Expenditure and Reform Brendan Howlin on how such an inquiry could begin “almost immediately.”
Mr Howlin has confirmed that he is “eagerly awaiting” the proposals and that he would fast-track any necessary legislation to facilitate such an enquiry.
“There can be no political shield and no administrative shield from this. The truth must out,” Mr Howlin said.
Interesting… might be time to put the pressure on to keep this happening.
The article says that this inquiry is coming from the Public Accounts Committee.
Here is the membership list
It’s worth a few people sending nice emails about their good work to these guys. The odd word of encouragement is free, can’t do any harm and quite often more a motivator than one thinks (speaking from the odd time someone gives me the odd word!)
Interesting also that the chair of this committee is John McGuinness TD.
I imagine Shane Ross is probably someone who is supporting this, as is Mary Lou McDonald. They are the only two that aren’t FG/LAB/FF on the committee. They could look very good out of this as a result, if it puts anyone in prison that is, unlikely I know. Possibly Labour as also advocating this, as the one party of the 3 main ones on the committee that didn’t vote for the guarantee. Again they could look very good on the back of any success. However FF are probably very glad to be in a position to control the process to some degree, if only to slow it down, and reduce the effectiveness of the scope etc or any inquiry.
With 84% wanting a clear and transparent inquiry, there is a lot to gain for some people, and also a lot to lose for others.
PAC won’t get banking inquiry, says colleague of McGuinness - Fionnan Sheahan →
independent.ie/irish-news/pa … 49251.html
A Fianna Fail colleague of Dail Public Accounts Committee chairman John McGuinness says he does not believe the committee will get to hold the banking inquiry.
Mr McGuinness continues to be embroiled in controversy following revelations in the Irish Independent about spending – which he had no hand in – on the Fianna Fail TD’s former ministerial office, his son’s overtime, and his justification of his wife accompanying him on trips abroad.
Mr McGuinness was told by TDs on his own committee last week that his position has been damaged by speculating about “powerful forces” who may be out to get him.
there is more
Banking inquiry to be televised but cannot assign blame - Colm Keena →
irishtimes.com/business/sect … -1.1445214
All the signs are that a banking inquiry will kick off this September under a new law
that will not allow a final report that attributes blame.
An inquiry under the Houses of the Oireachtas (Inquiries Privileges and Procedures) Bill, due to be passed by into law before the summer, will have to avoid any evidence that “could be expected to prejudice any criminal proceedings that are pending or in progress, or any criminal investigation that is currently being conducted”, according to a spokeswoman in Brendan Howlin’s Department of Expenditure and Public Reform.
there is more
How many reports is that now that don’t attribute blame to individuals?..while those that do are buried? There have been three banking inquiries:
Nyberg, Regling/Watson & Honohan. All concluded the same thing: The banks were unregulated in their lending and succumbed to “irrational exuberance”. How about answering this?
Noonan: ‘We don’t know who audited Anglo in 2008′ →
thejournal.ie/anglo-irish-ba … 9-Sep2012/
Where are the
Ernst and Young and McCann Fitzgerald on corporate governance issues at Irish Nationwide Building Society?
Wednesday, 6 July 2011
Deputy Michael McGrath asked the Minister for Finance Information on Michael Noonan Zoom on Michael Noonan when he will publish the reports by Ernst and Young and McCann Fitzgerald on corporate governance issues at Irish Nationwide Building Society. [19100/11]
Deputy Michael McGrath asked the Minister for Finance Information on Michael Noonan Zoom on Michael Noonan when he expects to receive a final report from the directors of Irish Nationwide on lending practices at the society. [19119/11]
Minister for Finance (Deputy Michael Noonan): I propose to take Questions Nos. 75 and 78 together.
Following the State’s investment of capital into Irish Nationwide Building Society, the Board of the Society was asked to identify and address the “legacy issues” of the Society and to co-operate with, where relevant, the appropriate regulatory or other authorities. To assist them in this work, the INBS Board engaged Ernst and Young and McCann Fitzgerald, and initial reports from these organizations were provided to the INBS Board in 2010. Following additional work on this matter, a further report was presented to the Board of the Society in June 2011.
Following recent discussions with the NTMA, to whom certain of my banking functions are currently delegated, the Board of the newly merged Anglo/INBS (Irish Bank Resolution Corporation) has undertaken to advance particular items raised in the recent report to the INBS Board. However, in view of the sensitive nature of the reports and their potential, if made public, to prejudice any future actions that may arise, I do not propose to publish the reports referred to at this time.
The Deputy may also wish to note that the above process is without prejudice to any investigation or action that the Central Bank, as independent regulator of credit institutions, may take on any relevant matter and that copies of the reports referred to above have also been provided to the Central Bank.
Suits Zanu FF nicely. They want to minimise the damage such an enquiry would do to them.
Whats wrong with the courts? Are they booked out or something? Surely they can make room for the biggest larceny and fraud in the history of the state?