In the most dramatic development since the present financial crisis began, accountant Des Peelo, announced on Questions and Answers (Q2) last night that the banking crisis was over.
“I believe the banking crisis is over. I believe it’s been handled correctly and fair credit to Brian Lenihan and the people in the Dept. of Finance. There was this huge fog of uncertainty out there created by the banking crisis. I don’t think AIB or BOI will be nationalised.”
Mr. Peelo conceded that there was still a lot of ‘debris’ out there like the countless millions lost to shareholders but such personal loss and devastation didn’t seem to matter much to this man. The main thing was that Brian Lenihan had solved the problem and it was time for everybody to move on.
But when we remember that Mr. Peelo was Haughey’s personal accountant and also helped the chancer Bertie Ahern prepare his financial records for the Mahon Tribunal we realise that his announcement is not so dramatic after all.
Anybody who can work closely with the finances of the corrupt Haughey or the dodgy finances of Bertie Ahern and still feel that they are men of the highest calibre would have no problem in deluding themselves that the banking crisis is over.