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THE INVESTIGATION INTO banking crash which crippled Ireland’s economy needs to speed up and make some findings, a senior government minister has said.
Brendan Howlin said that there needs to be accountability for the people who made “reckless and outrageous” decisions and said he would like to see an “early determination” of the investigation which is under way.
The Minister for Public Expenditure also said that there is a possibility that the referendum on public inquiries which failed to pass last October could be rerun to allow an inquiry into the banking crisis to take place.
He said that alternatives such as appointing a High Court inspector or a full committee of inquiry to investigate the collapse were also under consideration.
In the interview with the Financial Times, Howlin said that there hasn’t yet been a full explanation of who was responsible for the financial crisis, who made the decisions and who advised on the decisions, adding:
I do think that it is necessary to get the full picture
The Minister said that there is an “absolute requirement for light to be shone into that dark crevice”.
Howlin said that he would not comment on whether politicians should be questioned by gardaí or charged over their role in the crisis as it would be inappropriate. Iceland’s former prime minister Geir Haarde is currently on trial over the collapse of the country’s banks during the 2008 financial crisis.
The ongoing investigation is being carried out as a joint operation between the Garda’s fraud investigation squad and the office of the Director of Corporate Enforcement.
Former head of Anglo Irish Bank Seán Fitzpatrick was arrested in December for the second time as part of the investigation into alleged irregularities at some of Ireland’s financial institutions during the boom.
Both times Fitzpatrick was released without charge.
“I do think that it is necessary to get the full picture” – ye dont say. this should be well underway if not over with by now.
”Investigation into banking crash needs to hurry up – Howlin” ??
No Brendan
Your plan is
to wait until every working person in the country is either kicked out of their home or has emigrated before you will do anything.
This has been going on 4 long years.
”Howlin said that he would not comment on whether politicians should be questioned by gardaí or charged over their role in the crisis as it would be inappropriate”
That’s probably because he was not asked to comment by anyone, especially the ”bought out” toothless opposition media.
typo
opposition and media
this guy howlin is talking more dribble there is no investigation of any real meaning in to the bank heist , if the truth ever gets out which it will in about 25 years and all these guys who are responsible for the heist will be dead .could any body guess how many judges barristers political elite would have to resign due to being bankrupt if that bank went under ,
Howlin you really are joking
How dare you Howlin insult the Irish people with this crap
We don’t need a referendum to get a criminal investigation into fraudulent activities. There have been enough inquirys, we need court cases not bureaucratic bullshit inquiry’s that only seem to line the pockets of a select few solicitors and lawyers. This government and the last one are determined to whitewash the past and get a never ending inquiry which would cost more money going. Fraudulent activity is criminal so give more powers to the fraud squad and a investigation of the financial regulator also.
The unfortunate reality is that unless people can be found guilty under the laws at the time, there won’t be many court cases. What we need to focus on is the naming and shaming of those responsible and that we learn thoroughly what mistakes were made. The Oireachtas inquiries route was the best as it allowed members to make findings of conduct of persons involved in matters of national importance.
What will be ignored in any inquiry is the states roll in the property bubble/bust. The state played a key role in this whole sorry episode. From cheerleading & introducing tax incentives to further inflate the bubble to the disasterous bank guarantee.
Awarding enhanced powers to the state to investigate the crisis is like authorising an accomplise to a crime the powers to investigate that crime. Any findings will be distorted to protect the investigator.
Any banking inquiry must be undertaken by a party with no involvement in the crisis and no vested interest in it’s findings.
David, here’s the thing, People don’t like truth. I often have this conversation with people:
Them: There’s too much cuts
Me: You’d be moaning if they didn’t cut
Them: True.
People just don’t like being told the truth unfortunately. They just oppose every good government does because of some of it’s failings, its quite ridiculous but unfortunately that’s the current electorates mindset, not a good one but hopefully the electorate I’ll be on will be smarter, I know I won’t just say no to everything government does like the current electorate.
Yeah Karl,
Just because it aint nice doesnt mean it aint the truth.
We know some arseholes screwed everything up for the rest of us – now we have to do whats the best to fix things up again, and that isnt nice either.
They still should find a way to string up those aforementioned arseholes so they wont stay rich while we pay for their mistakes.
BUT not paying household charge and voting no on the upcoming referendum wont punish those arseholes, and protest votes got us the shower of eedjits in government now
Argh I dont know
There’s little clarity or concensus as to what the actual cause of this crisis is. There are vague accusations directed at banks, bondholders, Fianna Fail, Greens, ECB, property developers, bank regulators, Department of Finance, Merkosy, the IMF.
All of these actors have one way or another behaved with criminal negligence, corruption or both. However, these are merely symptoms of the dysfunction rather than the cause.
The cause of this crisis is the currency we use. Every episode in history where fiat currency has been used has resulted in economic collapse. This one is proving to be no different.
Taxes and fiscal controls will not address or resolve this problem.
http://papermoneycollapse.com/book/prologue/
Charles de Gaulle predicts the current crisis in 1965.
http://www.transcend.org/tms/2011/10/de-gaulle-predicted-the-us-monetary-crisis-in-1965-video-of-the-week/
Don’t vote no on the up coming referendum to punish politicians, vote no because the route the EU is taking is the wrong one. Vote no because the suggestions are a sham. Vote no because the powers in the EU are only out to save themselves. Vote no because you want a real solution – even if it is more painful than the current one in the short term.
Dave, we haven’t got the laws and can’t backdate our laws, unfortunately we are pretty helpless and the Fianna Fail party knew this so took full advantage. Now we just have to name, shame and clean up the mess. Bite the bullet and get on with it once and for all.
Best to change the wording and define more clearly what powers politicians should have. Not enough just to run the same referendum again. But he’s right we need a banking inquiry and unless we want a costly tribunal we’ll need some constitutional change to make one possible.
This is pure spin by the Government.
Isnt there only 4 gardai working on the Anglo case?
How can 4 people get through all the information in any less than 20 years, or ever?
It’s 11 Gardaí.
The Labour Party are class traitors. Bring on the revolution and the gulags.
The easiest way to find the truth is with reading writing and arithmetic.
If we force the so called judicial systems of Ireland to use the proper methods instead of delusions, lies, bullshit, wishful thinking, presumptions, rumours, assumptions, guesses, figments of there imaginations then the job would be over by now.
Ireland will never have justice until we get a new court system.
Let Prime Time investigates do the investigation and take some people of the dole to help out. No need to make anymore legal eagles millionaires from the incompetence of our legislators.
An inquiry by politicians to exonerate politicians? No thank you!
Why not – did not An Garda Siochana perform such dark art brilliantly for decades in pursuit of the notion of their infallibility and to put the fear of God into any person challenging their utterly corrupt ways. The system worked very well for those gougers.
Should we laugh or cry? The coalition has been in power for a year and progress on official investigations into irregularities at Anglo make a stopped clock look fast. The reality is that the government is not devoting enough man power to the necessary tasks. In contrast NAMA can dream up any number of experts all paid exorbitant salaries and fees. This year will see the fourth anniversary of Anglo’s nationalisation.
Needs to hurry up? You do know you’re about 5 years late brendan – or haven’t you been reading the papers?!! Take your time whatever ye do..
Is this guy for real?!
(ps – is he related to louis walsh?!)
Another 300 million tribunal will happen.Cover up after cover up.All looking after each other.They all need to be fucked out of the Dail,and put real caring people in.People dying while waiting to get into hospital.Disgrace to call themselves irish.
Karl
FG got sort of voted in because everybody was pissed off with FF.
If they were any good they would have got voted in with a huge majority.
They couldnt get voted in when Bertie was saying he was a finance minister with no bank account.
Where is their fecking 5 point plan?
Remember when Enda hid for a good part of the electioneering because his handlers didnt want him to ruin it all by saying something stupid?
Remember that FG kept wanting the government during the boom years to spend more?
Now now Dave. FG didn’t just get in because everybody was pissed off with FF. They also got in because they brazenly lied through their teeth during the election campaign. Theres 310,000,000,000 red cents being thrown into the anglo black hole at the end of the month to confirm this.
They got voted in and whether you like it or not your vote is valid for 5 years and can’t be changed unless government collapses before then. There 5 point plans fundamentals still remains in the program for government and they’ve stuck to it. Unfortunately they are in a coalition with Labour who aren’t the best partners, pretty clueless at times. No party can get their full election manifesto done in a coalition.
here’s the 5 point plan Karl
1 Growth and Jobs
NewERA: A €7 Billion Investment in our Future 6
Every Job Counts: Beyond the Smart Economy 7
Race to the Top: An Education System for the 21st Century
FAIL
2. Fair Deficit Reduction
Protecting Jobs – Protecting the Taxpayer
Sharing the Burden: A Fair and Effective Banking Solution
FAIL
3. Smaller Better Government
Smaller Government: €5 Billion of Savings
Better Government: An End to Command and Control
FAIL
4. A New Politics
Abolishing the Seanad – Reforming the Dail
Empowering the Citizen: Real Power to the People
FAIL
5. Healthcare for All
Radical Reform of the Current Health System (2011–2015)
Universal Health Insurance (2016–2020) 2
Making the Current Health System More Efficient
FAIL
There’s some facts for ye Karl
Oh Dave, you didn’t read the program for government did you(or you picked what you wanted to see was it?)? They are changing the healthcare system from 2013 with some pilots and fully in 2014. The short-term deal for the taxpayer might not sound too sweet but in the long run, it’s a lot better than what Fianna Fail done. The abolition of the Séanad has to be done through referendum and that referendum is widely expected to be this year as was promised. The Daíl will be smaller at the next election which is what I remember them saying during the campaign. The money for NewEra simply isn’t there but when we get back on the markets they’ll start judging it and try get it done however they are in a coalition with Labour who are fairly opposed to such schemes. The Universal Health Charge is to come into force in 2013 or 2014 last time I checked. You can’t do everything overnight or in a year as you seem to expect.
You are incredibly innocent Karl, now run along and fetch Uncle Enda a nice cold can of Lilt.
Ok Dave and Karl, this is getting a bit heated. Worth taking a look at our comments policy which asks readers to play the ball, not the man, and to avoid getting stuck into arguments which start getting too personal. Worth bearing in mind before posting again.
Okay Christine I didn’t mean to be offensive to Dave. I’ll stick to what I was looking at and take the person out of it then. I do appreciate your moderation Christine, it’s always helpful to have a moderators guidance on every website. B7584 I’m not innocent i just have a different set of ideals than you.
I would like to think that delving in the past will not prevent this economic disaster ever happening again.
It is blatantly obvious what happened. And from these mistakes we should learn.
And when I say we, I mean the government in a regulatory roll, the banks and indeed the individual person out in the street.
You have to take into account that Ireland never enjoyed an economic pinaccle such as the celtic tiger before.
Money was in abundance for the first time in Irish history.
A good comparison would be a lotto winner (Joe Soap) who just won say 5 million.
If this lottowinner has never had this amount of money at his/her disposal before it will very likely end in disater as research has proven.
My point being: you don’t just start throwing money around as if there was no tomorrow.
This applies equally to banks as it does to individuals……..
If anyone assumes that investigating banks will solve the problem then they need their head examined.
It is just another waste of resources.
How can a slave investigate its master?
OK Christine, I will also stick to the ball.
Even though i disagree with Karl I do appreciate he is very articulate in his answers, and most of our arguing has been about FG
Thanks.
All the usual writing off the government before the game’s over. You never know what they might do, there’s always a surprising(well for those doubters but normal people can see it happening) card played in everything.
Easy there, Enda.
B7584, I’m not Enda Kenny tho I would like his job. I must say if you’re writing off a person/party just because of some of their failings(for FG,Europe is the only one I can think of tbh) that’s not going to work out for you in the long run.
are you really 16 Karl?
Get some more life before you can make proper comments
Dave, I’ve stated nothing but facts now stop being ageist. The thing is your generations mess isn’t my generations problem.
Not being ageist when I say a 16 year old is not qualified to make serious comments.
Have you a family?
A job?
A mortgage?
When the financial meltdown started you were 12. I rest my case
Facts Karl?
Really?
I think you mean opinions. Very few actual facts Karl
Actually you are mate, I know what’s going on and as I said your generations mess isn’t my generations problem. Yes, I was 12 but I was 6 when I knew the euro was too good to be true. The thing is I’m allowed to make the comments from my perspective otherwise I wouldn’t be making them. You can join a youth political organization from Age 15. You can run at 18 and vote at 18. There’s only a 2 years difference between when you can vote and my current age and I can already affiliate with a party through their youth organization tho I do not. If all you can do is comment on my age you really have no argument. Dave I said there’s surprises in everything that’s a fact, I said from my perspective I think the only thing FG have failed on his Europe, that’s a fact because that is indeed my honest opinion. I’ve stated you’re ageist, that’s a fact as you have went against what I said with the only argument from you being my age. I’ve stated facts.
Opinion is only fact in your head Karl
No it’s not.
Hate to tell you this Karl but it is your generations problem, and your kids problem too. That’s a fact. nothing’s going to change because no-one is willing to make the hard decisions. Everyone out for themselves, no one looking at the big picture. If I was you I’d be making plans to get the hell out as soon as you’re 18.
If you think getting us out of this financial hole is part of the plan you’re sorely mistaken. The governments actions are those of cowards, they haven’t the nerve to take the decisions that are needed, they’re all about self-preservation, they only secure their own futures.
For their failings? That’d be everything then?
B7584, They haven’t failed on everything. They’ve got the troika targets met and are engaging with businesses. They’ve started employment programs and done cuts:tax raises on a 3:1 ratio. The majority voted for a conservative government and they got fiscal conservatism with that 3:1 ratio. The country is spending too much (€20 Billion per year to be precise), we have to make cuts whether you like it or not. Would you rather they continued spending that money every year they where elected to office and added even more money to our already out of control deficit? Ye, didn’t think so. We can’t have it all ways we have to give something to get something.
Ok Enda.
I’m not Enda but I must admit I’m glad you likened me to him, he has shown great strength defying public opinion and maintaining his parties lead in the majority of the polls.
lol Karl, while I admire your confidence in the government – why don’t you check out exactly how much money we’re paying to defunct banks on top of the deficit. Come back with some hard facts and figures on justifying that spend, then we’ll talk. All this talk of the overspend is not the issue, it’s the cover-up.
Have a read of this for a start, some interesting facts and figures in there:
Skip down to the heading “Things That Make You Go Hmmm…” and read from there.
i am standing in the un adressing the nations i ask everyone to stand up ,then i ask them to sit down if there country does not do any finacial bisiness with GOLDMAN SACHS,AND GUESS WHAT HAPPENS NEXT NO ONE SAT DOWN does that answer the world banking crisis ,who would benifit if the euro failed=who owns the largest stake in goldam,ever here the saying, GOLDMAN SACHS RULES THE WORLD , and politicians thought they did well i sorry lads u have been OUTPLAYED AGAIN IN HISTORY BETTER LUCK NEXT TIME
Brendan
Would thou search in Google for ‘McDonnell Hanna Srinivasan Windle’ and brood, ponder and contemplate whether this misdemeanour needs investigation?
Cheers
A lowly common informer who failed in maths at school
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