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'Pillar banks'? . . . More like Pillory banks

I note with amusement that Finance Minister Michael Noonan is referring to AIB and BOI as pillar banks.

Given that the unbelievably irresponsible lending that these two banks have practised, which put the nation's taxpayers over the proverbial barrel, wouldn't it have been more accurate to refer to them as the Pillory banks?

Enda Cormican
Athleague, Co Roscommon

Irish Independent