Sunday 4 December 2016

Lessons from bust may be lost if homes remain beyond reach

Gerard O'Regan

Published 30/01/2016 | 02:30

Back in the real world of Ireland 2016, some old and new challenges once again loom in the housing mortgage market.
Back in the real world of Ireland 2016, some old and new challenges once again loom in the housing mortgage market.

Having been among those summoned by the Banking Inquiry collective - and charged with confessing any or all sins which helped prime the property bubble - meant its final deliberations were of more than passing interest.

  • Go To

One was struck when sitting among the assembled politicians that despite all their earnest questioning, there was a kind of will-of-the-wisp dimension to the whole thing. The horse had already bolted. Hog-tied by various restrictions and legal constraints, could they really shed any new light on the miasma, self-loathing, and never-ending blame game, spawned by our economic meltdown?

To some observers, the inquiry findings may seem to be somewhat underwhelming. In very simple terms, the main conclusion of this massive probe is that the economy went belly-up for a host of different reasons. There was no single event which proved a catalyst for the disaster which engulfed so many. The generality of the findings are also a reminder that real retribution for alleged wrongdoing during the madcap years can only come about by way of Garda investigations. And it is then up to the DPP to determine if there is a case to answer - before the courts pass judgment.

Please sign in or register with Independent.ie for free access to Opinions.

Sign In

Read More

Don't Miss

Editor's Choice