Tuesday 24 October 2017

John Drennan: You can bank on an inquiry into how so much was lent by so few

Whether or not we'll learn anything useful from this exercise is another question, says John Drennan

John Drennan

John Drennan

THE wonder of it is that they thought they might actually get away with it. Of course, forcing politicians to institute inquiries into their own behaviour is like pulling a wisdom tooth with string and a doorknob, but the near collapse of our self-generated banking crisis threatened the very existence of the State.

This reality meant that in the long run, when it came to setting up an inquiry, the Government did not really have a choice.

Such a decision may even benefit Mr Cowen, for his initial reluctance meant the Taoiseach was already being found guilty of destroying the economy under the ageless quasi-judicial 'the innocent have nothing to fear' principle.

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