Sunday 22 January 2017

Regrets of a watchdog who failed to bark

Published 29/05/2015 | 02:30

Patrick Neary, the former Chief Executive of the Irish Financial Services Regulatory Authority
Patrick Neary, the former Chief Executive of the Irish Financial Services Regulatory Authority

Speaking in the early 19th century, one of the founding fathers of America, Thomas Jefferson, said that the "modern theory of the perpetuation of debt has drenched the earth, and crushed its inhabitants under burdens ever accumulating."

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This "modern theory" was taken to a whole new level by bankers in this country all too recently.

The billions burned and the debts placed on innocent citizens have once more left generations with "burdens ever accumulating."

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