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Should action be taken against banks under the gaurantee who paid bonus's?

  • 04-03-2011 8:57am
    #1
    Floppybits
    Registered Users, Registered Users 2 Posts: 7,842 ✭✭✭


    Should action be taken against the Senior management in BOI for lying to the government about paying bonuses?

    Bank of Ireland misled Lenihan on bonuses

    What are the public interest directors doing on these boards? Should the new government now order a root and branch investigation into the banks to see what else they are hiding or lying about?


Comments

  • #2
    dan_d
    Closed Accounts Posts: 2,819 ✭✭✭dan_d


    Yes.
    Simple answer.
    I believe the DoF are requesting a payment from the bank to the Gov in lieu of this-but it should never have happened.
    2 years later and they're still paying out bonuses.Not good enough.If it was me calling the shots and it had been let get this far, they'd all be gone. Yet again, they've proven they can't be trusted.


  • #3
    kmick
    Registered Users, Registered Users 2 Posts: 3,375 ✭✭✭kmick


    In a word yes. Will enda have the balls to do it though?


  • #4
    amber2
    Registered Users, Registered Users 2 Posts: 1,618 ✭✭✭amber2


    Yes, I think when we baled out the banks there should have been more stringent restrictions put in place to regulate banks so as they are not free to do as they always did.

    Also think they should look at the banks product selling practice both in branch and also under the pretence of a Customer Care Call.


  • #5
    Floppybits
    Registered Users, Registered Users 2 Posts: 7,842 ✭✭✭Floppybits


    dan_d wrote: »
    Yes.
    Simple answer.
    I believe the DoF are requesting a payment from the bank to the Gov in lieu of this-but it should never have happened.
    2 years later and they're still paying out bonuses.Not good enough.If it was me calling the shots and it had been let get this far, they'd all be gone. Yet again, they've proven they can't be trusted.

    The bank have been fined €2 million in recompense for misleading the finance minister. This is a paltry sum but then again it is tax payers money anyway. I would rather they forgo the recompense and sack the entire board, not demand resignations but sack them. Surely lying to the biggest shareholder in the bank is a sackable offence. I am sure in most other countries this would also be a criminal offence.

    I am hoping the Enda has the balls to wade into the banks and sort them out.


  • #6
    niallers1
    Registered Users, Registered Users 2 Posts: 800 ✭✭✭niallers1


    Out of curiosity, How many Irish bankers have been jailed since 2008 or are the trials still pending?


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  • #7
    sollar
    Closed Accounts Posts: 2,007 ✭✭✭sollar


    Yes, set up a pole and email a link to the relevant minister.

    They really are a law on to themselves with breathtaking arrogance too.


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