Sunday 19 November 2017

'Extreme profiteering by corporate greed caused crash' - Joe Higgins presents 'minority report' ahead of Banking Inquiry findings

Joe Higgins
Joe Higgins

Cormac McQuinn Political Correspondent

SOCIALIST TD Joe Higgins has presented his 'minority report' ahead of the publication of the full Banking Inquiry findings this afternoon.

He said "extreme profiteering driven by corporate greed drove the property bubble and caused the crash.

The Anti Austerity Alliance TD described administrations led by Bertie Ahern as "bubble governments" and claimed that Taoiseach Enda Kenny was "a silent non-opposition" during the boom years.

He said that while the Central Bank and Financial regulators must take "full measure of responsibility" for failing to reign in the banks, the "political establishment" must not be allowed make them a "scapegoat".

Meanwhile, he criticised the media arguing it "glamorised and cheerled the bubble".

Mr Higgins said he isn't signing the full banking inquiry report because of a "fundamental difference" with the majority of committee members as to where the responsibility for the crash lies.

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