Rogue bankers to face court next year -- Ryan
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ROGUE bankers will face the courts in 2010 over their "malpractice" and "improper conduct" a cabinet minister predicted last night.
Energy Minister Eamon Ryan is the first member of the Government to publicly indicate that he expects legal action to be taken next year.
The minister, pictured, told the Irish Independent he hopes cases could be taken next year.
"I can't believe in the scale of our banking problem that it didn't go beyond incompetence into malpractice," he said.
There are currently three investigations into the banking scandals by the Director of Corporate Enforcement, the Garda Fraud Office and the Financial Regulator. The conclusions from these inquiries will then be passed on to the Director of Public Prosecutions to decide if any charges can be brought.
The minister stressed it will obviously be up to these bodies to determine if prosecutions should be pursued and the courts to decide on the outcome of any trial.
"Given the scale, we do have to pursue every legal means to take anyone who was engaged in improper conduct into the courts," he said. "I think that given the amount of resources (gone into the investigation) I hope there could be an action," he added.
The minister said he would be "very surprised if there's not" any court cases and feels the public need to see an outcome from the investigation. "I think that does need to be seen to happen," he said.
And the Green Party minister warned the management of the banks that any recent appointments to senior positions are only "interim" arrangements.
"Anything there is on an interim basis. We need a root and branch change of attitude in the banks," he said.
The minister has also defended the junior coalition party's stance on NAMA after new Central Bank governor Prof Patrick Honohon said a greater level of risk could have been taken on by banks.
"The exact measures were different to what was proposed. The State gets paid first. Before any bank gets paid, the State has to get its money back," Mr Ryan said.
The minister said the big issue with NAMA is how it works in developing assets. He said the bad planning of the past cannot be repeated.
"The really difficult thing is how it manages assets and developments," he said.
Sentiments
Mr Ryan's views on the public needing to see results echo the sentiments of Taoiseach Brian Cowen.
Mr Cowen said last weekend that he wanted to see the investigations finished as soon as possible and "it can't happen quickly enough in terms of trying to persuade public opinion".
The Taoiseach pointed to the three ongoing investigations and said he understood the frustration people felt.
"My job, at the moment, is to get on with the business of government and ask that those people who are doing their job try and conclude it as quickly as they can. I can't determine that," Mr Cowen said.
Mr Ryan also says he wants the Government to set out a "long-term vision for the country", similar to the plan of the 1950s. The minister wants to see the country become a leading developer of renewable energy.
- Fionnan Sheahan Political Editor
Irish Independent
