Monday 19 March 2018

Colm McCarthy: Fours years on yet not even a parking ticket issued

Our banking crash has been described as the worst ever, so why are we dragging our heels over allocating blame? asks Colm McCarthy

Colm McCarthy

Colm McCarthy

BY Tuesday last, less than a week after the publication of a report criticising the UK-based Barclays Bank over interest rate rigging and a hefty fine from the regulators, the chairman, chief executive and chief operating officer had resigned.

The outgoing chief executive spent Wednesday afternoon fielding questions on live television from the House of Commons treasury committee.

In Spain, the High Court has commenced a criminal investigation into the goings-on at bust bank Bankia, one of whose targets is the ex-chairman Rodrigo Rato, a former government minister and former managing director of the IMF. In the US, dozens of convictions for insider dealing on Wall Street have been secured and one billionaire hedge-fund manager has commenced an 11-year jail sentence.

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