Senator Ross: Still shocked after all those scandals

Once again Senator Shane Ross is shocked by the activities of greedy bankers.

His shock on this occasion was caused by the news that greedy bankers had hatched yet another sly scheme to get around government restrictions on pay and pensions (Newstalk).

The details of this latest greedy manoeuvre are not very important. It is, after all, just the latest scam hatched by greedy bankers who know they have absolutely nothing to fear from anybody.

What’s really fascinating about these events is how so called financial experts like Shane Ross can remain completely blind to the reality of the situation.

People like Senator Ross continue to believe that there is some kind of division between politicians and bankers; that politicians and regulators are acting in the interests of ordinary citizens and the good of the country.

The Senator seems to believe all this despite overwhelming evidence to the contrary.

Since the foundation of the state no bank or bank official has ever been convicted of a crime. This is despite the fact that they have been robbing their customers and the state with impunity for decades.

It is only in very recent times and only after the total collapse of the economy that some minimum actions have been taken against these people.

Senator Ross apparently believes that the establishment of a Financial Regulator in 2003 was a genuine attempt to bring law and order to the Wild West Irish financial sector when the facts point to the complete opposite.

The Financial Regulator operates under strict secrecy laws that would be seen as extreme in the former Soviet Union.

The Senator probably thinks that such secrecy laws just accidentally appeared on the statute books, he probable thinks that politicians had absolutely nothing to do with the drawing up of these secrecy laws.

These secrecy laws have just one affect – they provide total protection for the widespread criminality within the Irish financial sector, criminality that continues unchallenged to this day.

The Senator told listeners:

People don’t seem to realise that the banks are running rings around the Government.

Wrong Senator, it is patently obvious that politicians and the regulator are willing participants in a system that defends the interests of bankers at the expense of ordinary citizens and the good of the country.

Copy to:
Financial Regulator
Senator Ross

2 thoughts on “Senator Ross: Still shocked after all those scandals”

  1. Personally, as a former treasury banker, I believe Shane Ross has integrity and an excellant understanding of the countries economic and financial situation and understands the inner workings of financial markets ( interbank, stock market, off balance sheet, swap, spread, liffe and regulation etc.). far better than any member of the government. Should one wish to test the knowledge and understanding of our government ministers, especially Brian Cowan and Brian Lenihan, just interview them and ask about exposure reports. These by the way are reports which detail day by day or minute by minute the exact exposure a bank has to any given bank, banking group, company, country, sector, currency etc. Therefore to say that this is all a suprise is he biggest load of utter nonsence and beggars belief. Most of what is being said is in fact half truth boardering on absolute lies. If fact one could add colusion. From private discussions/ debates with some in the legal profession both here and abroad the queston of Treason has been raised. This situation is only possible f the boards of the banks sanction increased levels of exposure. The traders and dealers are goverebned by very strict and precise exposure levels over which they are not permitted to go. Remember Nick Leeson. Look to the obvious, don’t complcate the issue. It’s not complicated. It’s simple greed. Apply Occam,s Razor. The rub is our banking bosses were earninghugh bonusus.I’m a banker, I’m a politition, I’m all right, my family’s all right, I got a job, I got a pension, I got I,I,I,I,I. See the picture. Brian Fortune, Dublin

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