Tuesday 21 February 2017

Nothing to fear hearing Drumm

Published 26/07/2015 | 02:30

David Drumm
David Drumm

Morgan Kelly is absolutely correct when he says the Banking Inquiry will do as little as all the previous inquiries. He might have gone further and said it will actually do less. Apart from the fact that these type of Oireachtas inquiries are hampered from the start by the decision of the people not to trust parliamentary inquirers with the kind of power they would need to get the full truth, the Taoiseach's decision to politicise it at the beginning has meant it has always been tainted. It is not the fault of the chairman or the committee members that everything about this inquiry is political and locked into the context of the next general election.

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On top of that, the allegations of the inquiry investigator-turned-whistleblower about the way in which the inquiry has been doing its business, has cast considerable doubt over the credibility of the whole exercise.

There is no doubt that we need to find out exactly what happened within the banks and in government as the financial crisis erupted. We deserve to be told about all the relevant and crucial decisions and who made them and when. Uncovering a paper trail within the banks would be a good start. But there are few who believe the Banking Inquiry is the way to accomplish that objective.

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