Michael Fingleton's son gets his knuckles rapped

What on earth was the guy thinking? Surely this is the time if you are a banking executive to keep your head down and not draw any attention to yourselves. The stupidity of it is astounding but I suppose yet again no-one will pay the ultimate penalty. Personally I would remove the guarantee and feed Irish Nationwide to the wolves!
 
This underlines whats wrong with Irish Nationwide. Can you imagine the son of one of the chairmen of the other financial institutions even being in a position to send such an email?
 
He should lose his job and that's what the Financial Regulator should demand at a minimum.
 
The nepotism alone disturbs me, never mind the foolishness (best way of putting it) of the email.
 
Howitzer said:
The nepotism alone disturbs me, never mind the foolishness (best way of putting it) of the email.
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Yeah, Irish Nationwide doesn't exactly have the best reputation for corporate governance. Probably another example of where the regulator should have taken action before now.
 
I would love to see them removed from the guarantee scheme. If nothing else it would serve as an example to other banks to get their houses in order.
The sheer arrogance still baffles me.
 
Given the performance of the financial regulator on last nights Primetime I doubt much will be demanded. Having missed the intro I initially thought he was a spokesman for the Banker Federation.
 
Askar said:
Given the performance of the financial regulator on last nights Primetime I doubt much will be demanded. Having missed the intro I initially thought he was a spokesman for the Banker Federation.
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I thought he was reasonably good under the circumstances. I wanted to hear what he had to say, but instead had to listen to this mark little clown distrubting everything the man was trying to say. Another example of the crap we get from RTE!
 
Sunny said:

but I suppose yet again no-one will pay the ultimate penalty.
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Hang on a second Sunny. It was very serious indeed, but do you honestly think he should be executed for it?

Brendan
 
Brendan said:
Sunny said:



Hang on a second Sunny. It was very serious indeed, but do you honestly think he should be executed for it?

Brendan
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the fella should lose his job, and apology made by Nationwide. To suggest INBS should be now thrown out of the scheme is just stupid, and am not sure what the ambitions of those proponents are to suggest this? Are they not subject to the potential of a demut cash BONANZA (even if it is only a grand as suggested by that Burgess dude!)
 
Askar said:
Given the performance of the financial regulator on last nights Primetime I doubt much will be demanded. Having missed the intro I initially thought he was a spokesman for the Banker Federation.
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I didn't see it, and the FR has made a lot of mistakes in the way that they regulate the banks especially the Irish Nationwide.

But they have a very difficult balancing act to do. The stability of the banking system is their first priority and it takes precedence over everything else. They can't be too critical of the banks in public in case it causes a loss of confidence. And we don't see what they do in private. For example, if they insist that Michael Fingleton is removed, it will be done quietly and behind the scenes. Fingleton will just go and we won't know whether or not the FR insisted on it.

Brendan
 
Let's not be too hasty in calling for heads, everyone deserves due process.

We should wait for the results of an investigation by the [broken link removed] in the UK to see if this is anti-competitive practice.
 
Brendan said:
I didn't see it, and the FR has made a lot of mistakes in the way that they regulate the banks especially the Irish Nationwide.

But they have a very difficult balancing act to do. The stability of the banking system is their first priority and it takes precedence over everything else. They can't be too critical of the banks in public in case it causes a loss of confidence. And we don't see what they do in private. For example, if they insist that Michael Fingleton is removed, it will be done quietly and behind the scenes. Fingleton will just go and we won't know whether or not the FR insisted on it.

Brendan
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actually I think the opposite. Taxpayers are now propping up the banks via the guarantee scheme (nationalisation by another name). Given that this relationship now exists (whether you agree with it or not), I don't think it's unreasonable for the taxpayer to expect full transparency in the new relationship between the regulatory authorities and the institutions.

therefore I'd expect to see IFSRA issue a press release to the extent of: "The regulator has noted the actions of INBS with extreme concern and has requested that appropriate disciplinary action be taken against the INBS staff members involved. A fine of xxxxxxx has also been levied"

to be followed by one from INBS along these lines: "INBS agrees with the findings of the regulator and has terminated the employment of xxxx xxxxxxxxx with immediate effect"

I believe this would engender much more confidence in the guarantee scheme than the 'wink, wink' old boys network alluded to above.
 
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