Picture of inefficiency
Sir --Letter of the Week (Sunday Independent, February 14, 2010), by retired bank manager Louis Ryan, outlining the banks' policy on lending money, would be rather amusing if it wasn't so sad. He states, "Significant increase in SME lending will simply not happen in the medium term, much less the short term." The reason he gives for this policy is that SME borrowings are high risk.
It would be interesting to know what he calls the billions in loans that the greedy banks rushed to hand out to developers and builders in the comparatively recent past. Just one of those billions, for which the taxpayer is being scammed, could have saved or improved quite a number of small businesses that have gone to the wall with the loss of jobs.
It fascinates me that apart from the few bank directors who have retired or resigned, most others have remained anonymous. When I look at the pictures of people printed in our newspapers taken going into or leaving our law courts, it makes me think that the papers should publish a complete list of the directors of the Nama-supported banks, with pictures, so that we could see what these reckless and inefficient people look like.