Regulatory Agencies

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

December 4, 2011 in Banks & Finance, Corporate, Government, IFSRA, Regulatory Agencies by Anthony | 1 comment

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 in bringing about the catastrophe.

Presently there is a universal belief that financial regulation has been radically reformed and is now fit for purpose.

All of the above beliefs are false.

Ireland has never enjoyed the benefits of real financial regulation. This is not an opinion, it’s a fact.

No financial institution or official has ever been charged with a crime despite the theft of countless millions over the decades.

Ireland did not suffer from light touch regulation; it was destroyed because there was no effective financial regulation whatsoever.

So called regulators knew about most of the major crimes committed over the years, like DIRT and Ansbacher, but did nothing.

When the media and whistleblowers (the real regulators) uncovered crimes that the Financial Regulator was not aware of no significant action was ever taken against the criminals.

As I write Irish citizens are continuing to suffer great losses because there is still no effective financial regulation in Ireland.

If what we are told by politicians, government officials and so called regulators is true, then the people involved in the Custom House Capital fraud would, at the very least, be under arrest.

That the people involved in this fraud are still walking around, enjoying the same rights and freedoms that law abiding citizens are entitled to, proves that there is still no effective financial regulation in Ireland.

Custom House Capital specialised in pensions for wealthy customers and managed investments of about €1.5 billion for about 1,400 clients.

The firm also invested in property in France and Germany on behalf of clients.

The company misused €56 million in clients’ money to cover up troubled property deals.

A report on the matter submitted to the High Court states:

There was a systematic and deliberate misuse of assets and cash belonging directly or indirectly to clients of CHC.

This misuse was deliberately disguised by CHC through the use of false accounting entries and the issue of false and misleading statements to clients.

The High Court ordered all reports on the matter to be sent to the Director of Corporate enforcement, the DPP, the Garda Commissioner and Revenue.

The so called Financial Regulator investigated CHC in 2009 after somebody noticed a strong odour coming from the company but, predictably, found nothing of great import.

Some managerial changes were recommended and the matter was dropped.

It was only when another company, Appian Asset Management, had taken over the non-property investment assets of CHC that serious concerns were raised.

It was only after this company acted that the so called Financial Regulator took any significant action.

Let’s repeat these facts as starkly as possible.

In 2009 the so called Financial Regulator carried out an in-depth investigation into CHC and found that, apart from some supervisory and organisational issues there was no significant problems with the company.

Here’s what the Regulator decided to do.

Following the identification of these supervisory concerns, related to compliance and organisational issues, the strategy was to encourage CHC to identify and engage with potential buyers for the firm, which would be the best outcome to protect client investments and funds.

CHC took that advice and shortly thereafter sold part of its business to another company, Appian Asset Management.

It seems that this was an attempt by CHC to off load that section of its business where the fraud occurred while holding onto its property assets.

Remember, this is, effectively, what the Financial Regulator advised.

The crucial point in all this is that a company that wasn’t engaged in any investigation easily discovered major fraud in a company that had just been investigated by our so called reformed and fit for purpose Financial Regulator.

It should also be noted that CHC was heavily engaged in fraudulent activity in 2009 when the Financial Regulator was, allegedly, investigating the company.

One of the victims of this CHC/Financial Regulator scandal precisely summed up my views on this matter (My emphasis).

I would like to see some criminal charges against those involved.

I would like to see an action taken against the Central Bank (Financial Regulator) because they were protecting the firm when they should have been protecting the consumers.

As I say; there is no effective financial regulation in Ireland.

Copy to:

Financial Regulator
Dept. of Finance
Director of Corporate Enforcement
DPP
Revenue
All political parties

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Checking billionaires and social welfare recipients

November 22, 2011 in Government, Regulatory Agencies, Social Welfare by Anthony | No comments

I see social welfare officials are exploring ways of obtaining the names of passengers on flights and ferries arriving into Ireland as part of a bid to combat welfare fraud by non-residents.

I certainly hope that this new scheme doesn’t reduce the effectiveness of the dozens of officials who, night and day, check the flights of millionaires and billionaires to ensure they’re complying with the 183 day tax residency law.

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Nothing will change until the corrupt political system is destroyed

August 30, 2011 in Banks & Finance, Body Politic, Government, Regulatory Agencies by Anthony | 2 comments

A caller to today’s Liveline provides us with a good example of the ruthlessness and greed of the banking sector.

The caller, an elderly lady, used her entire life savings to pay €100,000 off her son’s mortgage when he found himself in deep trouble.

The bank, the EBS, must have been rubbing its hands in glee as this part of the mortgage was on a tracker contract and so its payment would save the bank a substantial amount of money.

The woman then asked the EBS to come to an agreement for the rest of the mortgage (€50,000) which was on a fixed contract.

Not a chance lady, if you want to pay this part of the mortgage off we will impose a substantial penalty.

It’s the law she was told, it’s policy she was told.

You do us a favour, we screw you.

The Minister for Social Protection, Joan Burton, took time our from her busy schedule organising a no holds barred crackdown on alleged social welfare fraudsters to gently ask the banks to go a bit easy on the increasingly desperate peasants.

I actually would like to see the banks becoming active in reaching out to the citizens who have become embroiled in debt because of the recession, losing their job, losing their business.

The critical thing, said the Minister, is that people should engage with their lender.

We can see from the above example what happens to people when they ‘engage’ with their ruthless lenders.

Fergus Finlay has a good article in today’s Irish Examiner on the mortgage crisis in which he brings up the subject of revolution.

In my opinion the big picture is very simple.

The corrupt political system allowed the banks and others destroy our country.

The corrupt political system continues to protect the banks and others who destroyed our country.

Nothing will change until the people destroy the corrupt political system.

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Dr Ed Walsh: An intellectual idiot who should be confined to a nunnery

August 25, 2011 in Body Politic, Government, Regulatory Agencies, The State by Anthony | 1 comment

I have always had my hair cut short and last week I took the ultimate step of getting a complete head shave.

But having a billiard ball hairstyle didn’t stop me from going through the motions of pulling my hair out as I listened to the founding president of the University of Limerick, Dr. Ed Walsh, spouting pure bullshit at Beal na mBlath last Sunday.

According to this fool Ireland should never have joined the eurozone because:

Had Ireland remained outside the euro, its bankers would not have gained access to the euro zone’s vast and low-interest borrowing opportunities.

Without the outlandish credit available within the euro zone, the building bubble, the resultant government tax windfalls and Ahern’s, McCreevy’s and Cowen’s spending splurge would have been impossible. The country would not now be in receivership.

Irish banks, he said, were guilty of nothing more than some foolish borrowing. German and French banks, on the other hand, were reckless to lend to Irish banks. The European Central Bank failed in its duty to properly regulate all this activity.

Let’s just paraphrase this idiot’s opinion.

If Ireland had not joined the Eurozone the greedy vermin who inhabit the financial sector would have had no opportunity to carry out their crimes.

If Ireland had not joined the eurozone the political scumbags who made it possible for the bankers and developers to gamble away the wealth of the country would have found themselves with no other choice but to govern in a responsible, accountable and transparent manner.

If Ireland had not joined the eurozone Irish regulators would have been capable of dealing with the minor and very rare instances of financial crime and not overwhelmed by the massive wave of fraud brought on by those nasty loans from Europe.

In a sentence – If Ireland had not joined the eurozone our country would still be a nirvana of political, financial and regulatory stability and happiness.

The man is a complete idiot. His views confirm the old adage that education is no guarantor of intelligence.

By now, even the most ignorant dunderhead must be aware of the following facts:

The Irish political system is corrupt to its very core. If our political system was isolated on a planet billions of miles from the nearest German bank Ireland would still be a political/financial basket case. The political system would still operate with just one aim – to enrich the few at the expense of the many.

The Irish financial sector is infested with ruthless vermin who are free to rob and plunder as they wish with no fear whatsoever of being brought to justice.

The Irish regulatory system does not, in fact, regulate. It is not a case of light regulation, there is no regulation whatsoever. In many cases the so called regulators assist, defend and protect the vermin in their crimes.

This fool then goes on to compare Michael Collins, a true patriot, with the lying traitor Brian Lenihan. Collins, we are told, would have recognised Lenihan’s unrelenting commitments to Ireland.

Bullshit.

Collins would have recognised Lenihan for what he was; a gombeen lying traitor who worked tirelessly to protect the interests of a powerful and ruthless ruling elite.

Collins would have thrown Lenihan and his fellow scumbag traitors in jail for destroying the hopes of the Irish people, for destroying the independence that he, Collins and his fellow patriots, had fought and died for.

As for idiot intellectuals, I think Collins would have been charitable and confined them to a nunnery where they could do little harm.

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New TDs expenses system does not prevent fraud

August 10, 2011 in Body Politic, Government, Regulatory Agencies by Anthony | 4 comments

A recent report in the Irish Independent highlighted the low vote participation by TDs when compared to high claims for expenses.

TDs are required to electronically ‘fob in’ at a terminal, or else sign in at an attendance book, to claim travel and overnight costs.

These annual benefits range from €12,000 to €37,850, depending on where the politician calls home.

It comes on top of expenses of up to €25,700 for running a constituency office and a basic salary of around €92,000.

For the running of their constituency office TDs can choose a vouched or unvouched system.

With the unvouched system they receive €15, 00; no questions asked. With the vouched system they receive €25,700 but may be asked to produce receipts.

This ‘new’ system was introduced in March 2010 and is hailed by all those who benefit as a great step forward in transparency and accountability.

The ‘new’ system is, of course, neither transparent nor accountable as I found out when I spoke to a civil servant in the Houses of the Oireachtas.

On the fob in system.

Me: Who is responsible for monitoring the fob system?

Civil Servant: The Houses of the Oireachtas.

Me: What particular individual is responsible?

Civil Servant: I don’t know if it’s a specific individual, I mean, the records are checked, monitored and marked.

Me: Is it that TDs scan their fobs and are electronically recorded?

Civil Servant: Yes.

Me: Is it a civil servant who checks that record?

Civil Servant: I don’t know, the records are published on a monthly basis on our website.

Me: The reason I’m asking this question is because there’s obviously huge scope for fraud within the system.

Civil Servant: How do you work that out?

Me: If I was a TD in Kerry, for example, I could give my fob to a colleague TD and ask him to fob in for me.

Civil Servant: You could do that I suppose.

Me: So is there somebody there to make sure this is not happening?

Civil Servant: No.

Me: So there is scope for fraud in the system?

Civil Servant: Well, on that rationale there’s a possibility for fraud on everything, in every walk of life.

Me: Of course, but what I mean is there’s a possibility of easy fraud in this system.

Civil Servant: Well if you want to suggest that Oireachtas members are engaged in that, that’s up to you. We have no evidence of that at all.

Me: Well, you couldn’t have evidence because you don’t actually monitor the system which leaves lots of scope for fraud.

Civil Servant: That’s what you’re saying, I don’t agree with that.

Me: Could you confirm that there is actually no way to prevent fraud, somebody could, if they wished, fob in somebody else.

Civil Servant: There’s no evidence of that happening; never saw anybody do it.

Me: Is the system monitored, is there any way of preventing a TD from fobbing in for another TD?

Civil Servant: Other than they’re no allowed to do it and they’re told they’re no allowed to do it, that’s what we say to them.

On the signing in system.

Me: Is the signing in monitored?

Civil Servant; Most of them don’t sign in; I don’t know how many exactly sign in.

Me: The TDs that do sign in, are they monitored?

Civil Servant: I don’t know if any of them do, it’s an option.

Me: You don’t know?

Civil Servant: Not off hand, no.

Me: Even if one TD signs in, there’s a record. If no TD signs in, there’s still a record. Is that record checked?

Civil Servant: What do you mean checked?

Me: To make sure TDs are genuinely signing in and not signing in for each other.

Civil Servant: Yes, I suppose they could if they wanted to be very dishonest.

Me: Perish the thought that a TD would be dishonest.

Civil Servant: That’s what you’re saying. In life, if somebody wants to do something dishonest, they could, it’s quite hard to stop people. We have no evidence of that happening.

On the Voucher system.

Me: I understand there’s a percentage of unvouched vouchers checked annually.

Civil Servant: Yes, there’s an audit on 10% of unvouched vouchers.

Me: Is that audit available to the public?

Civil Servant: It’s still being carried out at present, I understand so it’s not available yet.

Me: I rang about this audit last year and was told the same thing.

Civil Servant: Ok, well, the audit is being carried out at present.

Me: When will it be available?

Civil Servant: I don’t know, when it’s finished, we’re very transparent here in the Oireachtas

Me: Yes, of course, you’re very transparent. What period does the audit cover?

Civil Servant: I don’t know. I think it covers the period since the new scheme came in March 2010.

Me: Is there a requirement that the audit be published within a particular time period?

Civil Servant: I imagine when it is concluded we’ll be publishing it. I don’t know if we will be publishing it, I can’t give you a definitive answer on that. We’ve had several requests for it, so I imagine it will be.

Me: So if I come back next year there’s a good chance it will be available.

Civil Servant: I don’t know, I don’t know precisely what date it’s going to be finished.

I first enquired about the so called voucher audit four years ago and was told there was no such audit.

I enquired again in 2008 and was told it wasn’t available because they were working on the new ‘transparent and accountable’ system of expenses.

Last year I was told it wasn’t available because the ‘new’ system wasn’t in long enough.

This year I’m told I may, but then again, I may not be granted access to the audit.

The bottom line is obvious. The so called new system of transparency and accountability does nothing to prevent fraud. Politicians can, if they wish, rob public monies with complete impunity.

If we are to judge from past events that is exactly what’s going to happen.

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Judge Kelly caves in to state pressure

August 2, 2011 in Government, Regulatory Agencies, The State by Anthony | 3 comments

On 19th July last I asked the question – Will Judge Kelly fold under state pressure?

Sadly, and all too predictably, the judge folded.

Judge Kelly had strongly challenged the state regarding the never ending investigation into Anglo Irish Bank.

Throwing down the gauntlet he said the requested six months extension to the investigation would not be granted unless the following demands were met.

Much more progress achieved.

Much more detailed information provided.

Progress in respect of the material sent to the DPP in December 2010.

More accurate estimates of time as to the completion of the various investigations than have been furnished to date.

This is what he got:

There are five parts to the investigation with one part substantially complete.

A formal decision on charges will not be made until all aspects of the investigation are complete because many issues in the five parts overlap.

Some aspects of the investigation will not be complete until end of this year.

Some transactions are more extensive and more complex than originally thought.

Judge Kelly responded:

Due to the additional information he had received and the fleshing out of the picture in relation to the DPP, he would grant a further extension of six months to the Director of Corporate Enforcement to continue his investigation.

Additional information, fleshing out of the picture? – rubbish.

All the judge got was a load of meaningless waffle accompanied by a very clear message.

Get back in your box and keep your mouth shut. We’ll call you when we next need your rubber stamp.

It is reasonable to conclude that the public dressing down of Judge Kelly by the DPP has had the desired effect.

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Will judge Kelly fold under state pressure?

July 19, 2011 in Government, Regulatory Agencies, The State by Anthony | 3 comments

Last May a very disturbing event occurred in this country which went almost completely unnoticed by the media.

The Director of Public Prosecutions, James Hamilton, publicly rebuked a High Court judge.

Some weeks earlier the judge in question, Mr. Justice Peter Kelly, had strongly criticised the long delay in the Anglo Irish Bank investigation.

The judge was angrily responding to an application from the ODCE for yet another extension of the investigation, this time for six months.

In his judgement, judge Kelly did not mince his words: (This short judgement is worth reading in full).

I am not, however, prepared to grant an extension of six further months as sought. I will grant an extension until Thursday, 28th July, 2011.

On that occasion, I expect much progress to have been achieved.

If a further extension is to be sought, I expect to be furnished with much more detailed information as to the progress of the investigation of these various issues.

In particular, I will require to know what progress has been made in respect of the material sent to the D.P.P. in December 2010.

I will also expect more accurate estimates of time as to the completion of these investigations than have been furnished to date.

Two years investigation without any appreciable result was not at all satisfactory, I am not a rubber stamp, said the judge.

The Director of Public Prosecutions (DPP), Mr. James Hamilton, and by extension, the State, was not at all happy with this upbraiding by an upstart judge.

In a clear reference to Judge Kelly’s remarks the DPP said that there were some ‘current misunderstandings’ regarding how the Anglo case was being handled.

In our system, investigators investigate and prosecutors decide whether to prosecute.

The prosecutor does not direct the investigation and, except in minor cases delegated to them, the investigators do not decide whether to prosecute. Only the prosecutor has this function.

Following the completion of an investigation, the prosecutor prosecuted, the defence defended and the judge adjudicated between the parties.

The message to Judge Kelly is crystal clear: Get back in your box and keep your mouth shut. We’ll call you when we next need your rubber stamp.

Mr. Appleby (ODCE) must have been greatly relieved by this ‘timely’ intervention by such a powerful officer of the state.

While agreeing with Judge Kelly’s demand for a report by the end of July Mr. Appleby said that he would be looking for yet another extension of time.

Clearly, Mr. Appleby is confident, after the DPPs intervention, of getting his extension.

If granted, it will be the 8th extension to the Anglo Irish Bank investigation.

So, let’s be clear about what’s going on here.

The state is, apparently, employing one of its most effective strategies in response to allegations of white collar crime – delay, delay, delay until the entire matter becomes historical and irrelevant.

The intervention by judge Kelly cannot be tolerated as it could force the state to actually take effective action, for the first time, against suspected white collar criminals.

The big question is – will judge Kelly fold under state pressure?

We’ll know next week.

Copy to:
DPP
ODCE

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Peasant laws rigorously enforced

July 14, 2011 in Gardai, Government, Regulatory Agencies by Anthony | 3 comments

The Gardai and the Dept of Social Protection are involved in a major investigation into social welfare fraud.

Five people were arrested as part of the investigation and are being held in various Dublin Garda stations under Section 4 of the Criminal Justice Act. A large quantity of documents were also seized in the raids.

Minister for Social Protection, Joan Burton said;

I’ve met with the Revenue Commissioners I’m taking new powers in the Social Welfare Act to have joint working groups.

Every Euro saved on fraud is money that can go to pay our pensioners and child benefit.

As a country we have to change the culture of social welfare and black economy fraud.

An RTE reporter excitedly reported that Garda were operating a new type of investigation whereby social welfare fraudsters can be brought before the courts on indictment thus bringing them before the higher courts almost immediately.

Gardai in the Fraud Bureau are also training Dept. of Social Protection inspectors on how to gather evidence that’s presentable before the courts.

If evidence is gathered in a particular way it will allow Gardai to get a warrant almost immediately, arrest these social welfare fraudsters and prosecute them at a higher level.

So, let’s take a break from all this exciting law enforcement to summarise the situation.

The police are taking immediate and strong action on receipt of allegations of wrong doing.

The police are arresting people suspected of financial fraud under the Criminal Justice Act.

The seizure of large quantities of documents, we presume, will in no way hinder quick prosecutions and jail sentences where appropriate.

A Government minister is actively involved in the operation and has no hesitation whatsoever in using all legislative powers at her disposal.

Politicians, police, Dept of Social Protection and the Revenue Commissioners are all working together in a concerted effort to prevent financial fraud and bring those who break the law to immediate justice.

This, of course, is the way things should be done in a real democracy. These fraudsters deserve everything they get.

Unfortunately, in a dysfunctional democracy like Ireland, law enforcement of this intensity, coordination and cooperation is strictly reserved for the peasant class.

The white collar criminals that infest the financial, political and business sectors, the vermin who destroyed our country, continue to enjoy full protection within a hopelessly corrupt state.

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Frank Daly, CEO of NAMA, is not to be trusted

June 20, 2011 in Regulatory Agencies, The State by Anthony | No comments

Frank Daly heaved a great sigh of relief as he slumped into his favourite armchair after a hard days work as chairman of the National Asset Management Agency (NAMA).

His wife, reading the signs, was sympathetic.

Hard day at the office dear?

Yes, replied Frank, even harder than usual.

You poor dear, was it some nasty blogger asking awkward questions again?

No, even worse, I had to tell the Taoiseach what he was thinking.

My goodness, Frank, your mind reading powers never fail to astonish me. What was going on in our silly Taoiseach’s mind this time?

Somehow he got the idea that NAMA was doing something dodgy, maybe even illegal.

No, Frank, how could he possibly think such a nasty thought?

You wouldn’t understand dear but after taking a look around his brain I quickly realized that what he really meant to say was something dodgy could happen and that he was asking NAMA to make sure it didn’t happen.

Of course that’s the situation Frank. Did our silly Taoiseach accept that his mouth was saying words that weren’t in his brain at all?

Oh yes, he knows his place, he knows who’s in charge of NAMA.

This, of course, is fictional except for the part where Frank Daly tells our Prime Minister that what he’s saying is not what he’s thinking which saw Kenny tuck his tail between his legs and run home.

I first heard of the alleged dodgy dealings within NAMA last February when then Fianna Fail Senator, Mark Daly made a series of very serious allegations on live radio.

I felt the allegations were so serious that I reproduced and published the entire interview and sent a copy to the National Assets Management Agency (NAMA), the National Treasury Management Agency (NTMA), the Dept. of Finance and to the Office of Corporate Enforcement (ODCE).

It’s not that I was expecting any of these agencies to actually act on the allegations, that’s not going to happen until we get a new republic.

It was more to make sure that at least they were aware of the allegations.

And what about Mr. Daly, the mind reader? Can the people of Ireland believe this man when he says there are no dodgy dealings going on within NAMA?

The answer is no, this man cannot be trusted.

He’s just one of a long list of senior civil servants whose actions and decisions almost always seem to benefit powerful people and institutions at the expense of Ireland and its citizens.

An incredible report in the Irish Times of Feb 6th 2004 on bogus non-resident accounts, when Mr. Daly was chairman of the Revenue, will make the point.

In the report Revenue claimed they could find no evidence that banks had encouraged customers to set up bogus non-resident accounts.

This, of course, is a blatant lie. There was, and still is, overwhelming evidence that the banks did encourage customers to break the law.

When Daly was asked about the matter by the Public Accounts Committee he said:

The banks would have brought the shutters down if Revenue had pursued officials aggressively. We had to go about this in a pragmatic way.

So here is a man who refused to act against widespread and well known wrong doing within the banking sector telling us not to worry about the very serious allegations made against the organization he presently controls.

Given his disgraceful decision not to pursue the banks on the bogus non-resident accounts scandal can the people of Ireland trust Frank Daly to act in their interests rather than taking the ‘pragmatic’ route?

In my opinion the answer is no, Frank Daly is not a man that can be trusted.

Copy to:

Frank Daly
NAMA
NTMA
ODCE
Dept of Finance
Taoiseach

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Brendan Keenan: A disturbingly ignorant journalist

June 16, 2011 in Body Politic, Government, Media coverage, Regulatory Agencies by Anthony | 1 comment

During a discussion on nepotism and cronyism Irish Independent economics editor, Brendan Keenan made the following comment:

We have certainly seen in Britain an appalling decline of standards in Parliament and I think we’ve seen some signs of that spreading over here.

It’s difficult to know where to start analysing such a disturbingly ignorant statement.

It seems that Keenan labours under the illusion that, apart from some contamination from the UK, Ireland is a fully functional, democratically accountable state where politicians seldom, if ever, engage in corrupt practices.

First, let me give a broad outline of what happened in the UK when the expenses scandal broke.

There was genuine and widespread anger throughout the land including among the body politic. Politicians were ruthlessly challenged on the matter by a professional and well informed media. Some MPs were even physically attacked by their constituents such was the anger at this theft of public funds.

The police were involved from the very beginning and ultimately succeeded in sending a number of politicians to jail. At least a third of MPs were either sacked or forced to resign and the Government introduced tough new legislation as a result of the scandal.

The theft of taxpayer’s money by Irish politicians is rampant and has been for decades, the practice is an integral and long accepted aspect of the corrupt political system.

The majority of Irish citizens have no problem with such practices so long as their local gombeen representative continues to dispense petty favours.

The police never, ever act against such corruption. The Ivor Callely scandal is a case in point. When a formal complaint was made against Callely the Garda Commissioner, the highest ranking policeman in the state, effectively put the investigation on hold because he was waiting for ‘more clarification’ from a lowly civil servant.

To my knowledge he’s still waiting.

The media, for the most part, are ineffective in challenging the corrupt politicians through a combination of grovelling subservience and/or low journalistic standards.

To be precise here, the Irish media are good at uncovering corruption and even at asking the right questions but almost never stay the course in demanding answers.

Irish politicians have long ago copped on to this and so respond by just throwing out the first excuse/lie that comes to mind and it’s off to the next scandal.

New legislation in response to political corruption never seems to be actually fit for purpose. This, of course, is no accident.

The recent ‘reform’ of TDs expenses, for example, allows them to steal a good portion of their allotment if they so wish, with no questions asked.

This type of legal corruption is rampant within the political system and throughout the ruling class.

One of the crucial weaknesses of how Ireland is governed is the total absence of any law enforcement authority capable of operating independently of the corrupt political system.

The media, for all its faults and weaknesses, is the only force in the land capable of challenging that corrupt system; it’s the only force that provides any protection for ordinary Irish citizens.

That’s why it’s so disturbing to witness such an ignorant display from such a prominent journalist.

Copy to:

Brendan Keenan

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