Category Archives: IFSRA

Elaine Byrne and judge Nolan: Clueless regarding the reality of white-collar crime

What do corruption expert Elaine Byrne and the Anglo trial judge have in common? Both of them are utterly clueless about the reality of how things are done in our corrupt state. Byrne tells us that our poor white-collar crime … Continue reading

Posted in Banks & Finance, Body Politic, Central Bank, Financial Regulator, Government, IFSRA, Regulatory Agencies | 1 Comment

The CHC fraud proves that there is no effective financial regulation in Ireland

Prior to the collapse of Ireland’s economy in 2008 there was a universal belief that Ireland possessed a functional financial regulatory system. Subsequent to Ireland’s economic collapse there was a universal belief that light touch regulation was the core factor … Continue reading

Posted in Banks & Finance, Corporate, Government, IFSRA, Regulatory Agencies | 1 Comment

We don’t have a financial regulator in Ireland but if we did…

Did you hear about that ‘systems failure’ at Bank of Ireland? No, no, not the overdraft ‘error‘ – that was this week’s error. I’m referring to last week’s ‘error’ involving ATMs. I know, I know, it’s difficult to keep up … Continue reading

Posted in Banks & Finance, Consumer interest, IFSRA, Regulatory Agencies | 1 Comment

Time to bury the body of our diseased nation

I’m certainly not going to influence the regulator in any respect. I think that would be bad for the country and I think we really need to learn the lessons of the banking crisis. The perception that the regulator can … Continue reading

Posted in Banks & Finance, Fianna Fail, Government, IFSRA, The State | 1 Comment

The farce of Irish financial regulation continues

The farce that is financial regulation in Ireland continues. The latest joke concerns allegations that banks are overcharging customers who break out of a fixed-rate mortgage (Sunday Business Post). (Big John Wayne) Lenihan apparently heard that banks were carrying out … Continue reading

Posted in Banks & Finance, Government, IFSRA | Comments Off

The all powerful 'independent legal advice' defence

Before Patrick Neary completely disappears into his very rich sunset there’s one fact that needs to be put on the record. The board of the Financial Regulator gave themselves the power to decide what they should be paid. In other … Continue reading

Posted in Banks & Finance, Civil Service, IFSRA | Comments Off

Groundhog Day (again)

From an Irish point of view there is absolutely nothing new about the recent scandals involving Anglo Irish and other banks. Theft and fraud within the Irish financial sector has long being an integral part of Irish culture. Such activity … Continue reading

Posted in Banks & Finance, Corporate, Government, IFSRA, Regulatory Agencies | 3 Comments

A corrupt nation in denial

The Financial Times has rightly described Ireland as a banana republic in response to the Anglo Irish Bank scandal. This is part of an ever increasing realisation by the international community that the administration of Ireland is, at every level, … Continue reading

Posted in Banks & Finance, Civil Service, Fianna Fail, Government, IFSRA, Regulatory Agencies | 17 Comments

A flawed and deadly assumption

On 4th Oct last I wrote: “There will be no sacking of senior bank management, there will be no appointment of outsiders to bank boards or if there is they will be given the job of making the coffee. There … Continue reading

Posted in Banks & Finance, Government, IFSRA, Regulatory Agencies | Comments Off

Those fecking efficient Germans

What a novel experience it must have been for Irish police to find themselves raiding a bank as part of an investigation into suspected criminal behaviour by its board members. No, silly, not an Irish bank. Irish banks are never, … Continue reading

Posted in Banks & Finance, Corporate, IFSRA | Comments Off