71 out of 73 bank directors have been replaced since 2008

[Brendan Burgess]

There is a very interesting article in the Financial Times headed

The Outsiders in Irish Banks

It manages to quote Shane Ross whose quote is at odds with his usual rants about the way there has been no change.

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“The bankers, politicians, developers, regulators and civil servants were the oligarchs at the top, all looking after each other,” says Shane Ross, an MP and author of The Bankers: how the banks brought Ireland to its knees. “It was all incredibly cosy with bankers wining and dining regulators and doing deals with customers at golf clubs.”

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[Leper]

I would read it as 71 out of 73 bank directors were rewarded for behaving in a dreadful way with excessive lump sums, huge pensions and immunity from prosecution.

 

[Brendan Burgess]

Hi Leper

The vast majority of these were non-executive directors, so they don't get pensions or lump sums on termination.

The employer cannot grant them immunity from criminal prosecution. If they have committed a crime, then the Gardai and only the Gardai, can charge them. It is only the DPP who can decide whether or not to prosecute them.

The main issue made by the FT is that the old guard is gone.

Brendan

 

[dewdrop]

Who are the two survivors?