The Government's Banking Inquiry

The electorate have clearly expressed their desire for a public enquiry into our Banking structures and mechanisms that have brought us to the financial chaos that our country now finds itself in.

At a recent meeting held in Gorey I asked over 100 participants opinion on whether we needed a public or private inquiry.

Result: 95% Public Inquiry
5% Private Inquiry

The opposition parties and respected commentators have also repeatedly stated that a transparent forum is essential to help restore confidence both nationally and internationally in our Banking Organisations and indeed in the credibility of our Government to lead the country out of the current financial crises.


Dr Patrick Honohan - Central Bank Governor
"the inquiry should be similar to a US congressional hearing into the September 11th terrorist attacks on the US.

Richard Bruton - Fina Gael
"an Oireachtas inquiry was the best way forward and a Judge Yvonne Murphy-type enquiry represented a "poor second best"

Eugene McErlean - AIB Whistle-blower
"Public hearings should be part of the enquiry but the first step would be fact gathering by other experts. a DIRT type investigation would work"

Eamon Gilmore - Labour Party
"It was decisions made behind closed doors that caused the crisis, in the first place. The pursuit of the truth must be done in the open,"


Many believe that Fianna Fail's Polices, Regulatory inaction and their close and cosy relationship with Developers have been instrumental and directly responsible in bringing us to this unenviable place.

Scare stories about such an enquiry having the potential to adversely impact current investigations by the Gardai and the Director of Corporate Enforcement have been floated by Fianna Fail prior to their announcement of a behind closed doors investigation.

It seems significant that once again the Green Party's John Gormly is sent out to defend the Government's indefensible position.

The Fianna Fail approach which is effectively designed to gain them more Government time, will take weeks to actually define it's own terms of reference and will report far too late to be in any meaningful.

Another stroke to Fianna Fail...................