Time to show bank bosses who is in charge
THE refusal of Alan Dukes and the board of Irish Bank Resolution Corp (IBRC) to cut pay at the bank shows how quickly we are drifting back to the bad old days in banking. We all know where that got us.
Pay packages of more than €500,000 for six staff at the state-owned former Anglo Irish Bank cannot be justified.
Under a capitalist system entrepreneurs can reap huge dividends, and big losses. The rewards that can accrue to such wealth creators are often absolutely justified.