McEvaddy praises our banking "talent"

We are all aware of the aura of scandal surrounding Anglo Irish Bank. Hot on the heels of revelations that its former chairman, Sean FitzPatrick, had hidden €87 million in loans from shareholders and auditors, we have the scam whereby 10 wealthy individuals bought €300 million worth of shares in the basketcase bank - financed by a loan from the very same institution.

However, a leading light of Ireland's business class, Ulick McEvaddy (also a supporter of Declan Ganley's anti-EU Libertas), sees nothing wrong with that.

The Independent reported McEvaddy as saying that “Anglo is a great bank… they [the 10 businessmen who are determined to hide their identity from the public despite four being named by Sunday papers] haven't done anything wrong . They should be proud of what they did…”. He then issued a dire warning for us all, stating that Ireland is going to “lose all the talent” in the banking sector. The banks, he claims, “built up the Irish economy” and were “architects of the Celtic Tiger”.

It's amazing how pure greed, corruption and skullduggery is often described as some kind of entrepreneurial genius on the part of our bankrupt Irish business class. It's also remarkable that not one corrupt businessman or banker will be taken to task for driving this rotten little country to the verge of ruin. That €300 million will never be paid back… it will have disappeared into the ether. And will any of them go to jail for defaulting? Not this side of a Monopoly game, they won't.

By the way, 54 people were imprisoned in this country last year for not having a TV licence.

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