Walsh defends Irish Nationwide board
By SIMON CARSWELL, Finance Correspondent Irishtimes .com
THE FORMER chairman of Irish Nationwide, Michael Walsh, has said anyone who was involved in banking during the crisis was unhappy with what had happened.
Speaking as he arrived at Dublin airport on Friday night off a flight from London, Dr Walsh was replying to a question about whether he felt any remorse about the cost of the lender’s bailout or with what had happened at the now State-controlled lender.
He declined to comment on the Government’s move to double the State’s bailout of Irish Nationwide from €2.7 billion to €5.4 billion last week due to higher than expected losses on property loans.
He also had no comment on his stewardship as chairman of the building society or the management of the institution by former chief executive Michael Fingleton.
Full story here link http://www.irishtimes.com/newspaper/finance/2010/1004/1224280310716.html
Here we have a man who should know better, he was part of a group who presided over the reckless lending to a small group of developers and now he hasn’t the decency to admit or take his share of responsibility, and in all probability he is in receipt of a bonus, pension and probably got a nice sum on his way out the door of Irish Nationwide,the building society he helped to destroy leaving the taxpayers with a 5,000,000,000 : Euro headache.He should be brought before the courts on charges of grosses dereliction of duties and if found guilty he should not be allowed to benefit from his questionable actions whilst working in the Irish Nationwide building society.
Why were the CAB not called in to investigate the obvious fraud that went on there ?
Why are these people able to fly around the world unhindered?One can’t help but get the feeling that they are been protected by the powers that be!
I wonder how many TD’s have loans with Anglo Irish Bank, Irish Nationwide Building society and now Allied Irish Bank ,Could it be that if the truth were known some of our TD’s would be declared Bankrupt and would then have to vacate their Dail seats and the Government would fall.
There should be at least a full independent financial audit done (By an foreign company) on these banks with a full list of the debtors and creditors published for all to see, so we can establish if there was a conflict of interest by any of the ruling élite of this country and if there was then criminal charges must be brought against such persons
- 2.7 billion for Irish Nationwide Building Society (politics.ie)
- Abramovich vs Ireland (ftalphaville.ft.com)
- Irish Govt Announces New Bank Bailout Help (news.sky.com)
- Ireland Faces Mammoth Bank Bill (nytimes.com)