Does anyone think that an irish bank official will do time for the mess we're in?

A

Ancutza

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I was having this discussion with my father today. He reckons that if the bankers are not called to account then Ireland is facing civil unrest.

I'm no great fan of the US, particularly their foreign policy, but I have to say I respect their position regards corporate governance. If you've done bad things then you can expect, at least, to be dragged in front of a parliamentary comission to explain yourself and probably jail if you are proven to have transgressed.

What is it about the Irish psyche which accepts disgraced public officials refusing to resign and allows people who have put the nations future in jeopardy to simply slip away into obscurity with a 'golden parachute' ?

Will the current mess see things change?
 
Does anyone think that an irish bank official will do time for the mess we're in?
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No. There isn't the political will or the legal skill... if it happens I will be very surprised.
 
Problem is, I don't think anybody did anything illegal.

The capitalist society we live in which is obsessed with greed put the systems in place that allowed people to bring world economics to its knees, but I think it was all done within the law.
 
Purple, I'd agree with you 100% on there not being the political will to see it come to prosecutions (at least not with the current administration being increasingly implicated) but surely the opposition are, likewise, becoming the circling vultures. There is more than political capital to be made by being seen to be the representatives of law-and-order.

I'd disagree that there does not exist sufficient legal expertise to prosecute.

If we accept that these individuals, employed by the banks or the state, will get away unpunished then we are really in a dark place indeed!
 
RMCF said:
Problem is, I don't think anybody did anything illegal.

The capitalist society we live in which is obsessed with greed put the systems in place that allowed people to bring world economics to its knees, but I think it was all done within the law.
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Intentionally producing sets of accounts that were not accurate, so as to interfere with and bolster the true figure, is not illegal? Hey, what are you on?
 
Well that's one potential charge. Any others anyone? And why will these not get tested in court?? Are we so lame as not to demand accountability?
 
I don't have any training in fiscal fraud investigation but I could produce a raft of offences (in this context) in the time it takes to have a coffee. Legalities are NOT so complex. Having said that, I don't want to get immersed in a long argumentative series of posts on the subject.
 
RMCF said:
Problem is, I don't think anybody did anything illegal.

The capitalist society we live in which is obsessed with greed put the systems in place that allowed people to bring world economics to its knees, but I think it was all done within the law.
Click to expand...
It has nothing to do with capitalism and everything to do with inept politicians and civil servants who don't have the wit or skill to frame and enact clear legislation.
The USA is far more capitalist than Ireland and they send their white collar criminals to prison for long stretches for far less.
People talk about light touch V heavy regulation when the issue is competence rather than scale, they talk about a capitalist system V a socialist one when the issue is political competence and integrity, not philosophical hue.
 
I for one would love nothing more than to see hundreds of top bankers around the world getting banged up, but I just don't think its going to happen.
 
It won't happen here; the bankers are too close to the top echelons and the laws are never tough enough on this kind of crime. In the UK, the police are already in the banks to look for criminality, and it is likely that people will do time there, likewise in the USA. In Ireland, politicians never resign, and white collar crime generally goes unpunished.
 
Instead of revelling in a hypothetical outcome, why not suggest the 'crimes' for which these individuals could prosecuted ?

Actual charges from the statute book - not airy fairy 'cos it seems like the right thing to do' type allegations ?
 
Its all down to accountablity. I dont know all the ins and outs on how people are appointed in the state but, correct me if I'm wrong, the government drew up the FSA and appointed head ie chief executive. The said CEO had a contract that was obiviously prepared to his advantage ie he could not be dismissed without receiving a substantial pay off. He to all intents and purposes does nothing. The government appointed him so they failed to have in place a proper job description to deal with " poor performance " oops forgot if you are in the Civil Service/Public you cant be dismissed for poor performance.

In the end it is corruption in action.

nao==
 
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