It's just a 'hypothetical' crisis

And still the commentators and analysts are insisting that a crucial part of any reorganisation of the banking sector has to mean that those who caused the mess must be fired, they must be made accountable. Here’s what AIB CEO Eugene Sheehy, one of those responsible, thinks of that attitude (New at One, 2nd report 1st item).

“We have no comment to make.”

“You have nothing to say to reassure your shareholders and customers.”

“They read what they read but we have no comment to make.”

“But people are very concerned about the situation.”

“The Government and the banks are talking to each other, we have no further comment.”

“It’s the taxpayer who is potentially poised to rescue the banks should there be a serious problem, don’t you not think the least you could do is make a short comment on it.”

“It’s a hypothetical situation you put there, we have no comment.”

So, there you have it. A €480 billion guarantee from the taxpayer with anything up to a €15 billion pay out in real money and, according to this greedy, irresponsible and incompetent banker – it’s all just a hypothetical situation.