Enquiring into the Financial Crisis – Irish style
12 January, 2010
In the UK, a Treasury Committee has published a series of reports into the banking crisis.
In Iceland, the report of a parliamentary committee on the banking collapse is due in a few weeks. The report will apportion blame for the crisis.
In the United States, the Financial Crisis Inquiry Commission will tomorrow “hold its first public hearing, in which the Commission will begin its thorough examination of the root causes of the crisis…” The Commission has the ability to subpoena documents and witnesses for testimony.
In Ireland, the Government does nothing.
One doesn’t have to be a crazed conspiracy theorist to believe Cowen and others must have something to hide. As the Sunday Times said, they “….are engaged in delaying tactics. Never before has this country entered into financial commitments on this scale. Those of us paying the bills for the financial crisis have a right to be told the full extent of the role played by politicians and bankers in creating the mess. When the Dail resumes, the clamour for an investigation will increase. As the funders of last resort we need to know why we are being fleeced.”
If a referendum is needed to give an Oireachtas enquiry the necessary teeth to get at the truth, then let’s just do it NOW.