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Dublin: 6 °C Saturday 25 May, 2013

Legislation may have to be put in place before banking inquiry

Legislation is a bigger question than whether the Public Accounts Committee or Finance Committee will hold the inquiry, said Deputy Alex White.

Deputy Alex White
Deputy Alex White
Image: Mark Stedman/Photocall Ireland

THE OIREACHTAS DOES not have the power to set up a banking inquiry – so legislation is a bigger question than who carries out the actual inquiry, Deputy Alex White said last night.

White was speaking on RTÉ’s The Week in Politics yesterday when he made the comments.

When asked about the fact that there seems to be some dispute between the Finance Committee and Public Accounts Committee with regard to who will carry out the inquiry, White said:

The most important thing of all is we get an inquiry, that we put an inquiry together; a credible, efficient and meaningful inquiry, particularly in relation to what happened with the bank guarantee. Everyone in the entire community wants that. Everyone in the Oireachtas wants that. The entire community wants that.

He said that “far more important” than which committee carries out the inquiry is the fact the Oireachtas doesn’t have the inherent power itself to set up inquiries.

“I think there will have to be legislation put in place so that the Oireachtas takes the power to hold inquries,” he said.

He added:

I don’t think there would be great public support for a tribunal. But there is an argument for it as one option for dealing with this problem.

A No vote was returned in the referendum on Oireachtas inquiries last October. Recently, Minister Brendan Howlin described it as “unfortunate” that the public had made their own discernment on giving powers of inquiry to the houses of the Oireachtas.

Earlier this month, Deputy White welcomed the Public Accounts Committee’s publication of its analysis of options for the holding of a parliamentary inquiry into the banking collapse.

Read: The banking inquiry… who’s going to carry it out?

Read: Here are the questions that need to be asked about the bank guarantee>

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Comments (19 Comments)

  • It amazes me that there’s no problem in finding money for inquiry after inquiry but have no money for other things. They’d be better off spending a few bob building a new wing onto a prison to imprison the likes of Drumm and Fitzpatrick etc. Inquiries are glorified talking talking shops for politicians. They’d be better off focusing their energy on bringing the country forward out of this never ending recession.

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  • In civilised countries the police investigate crime!

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    • Fagan's 16/07/12 #

      These inquiries are so that nobody goes to jail or nobody gets in too much trouble. Can you imagine anyone in FF agreeing to get the police in. FF ard Fheis’s would have to be held in Mountjoy Jail.

      FG will ensure that the boat is not rocked and there will be an awareness as well that a lot of friends would be in trouble as well.

      So neither FG/FF want a full inquiry, neither want a root and branch reform or clearing out of those responsible. Look at the Anglo Irish bank investigation, never ending and that is not by chance.

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  • the public doesn’t trust politicians to get this right. a criminal investigation is needed to determine, it’s not rocket science

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  • Jambbie 16/07/12 #

    Ah sure have a referendum about holding an inquiry into having a tribunal. DPP get up off your arse(s) & arrest these swindlers end of.

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  • I get a terrible sense of deja vu when I hear proposals for tribunals and the need for even more legislation to do something very simple. The people at the top who do obvious wrong always hide behind the law whereas the people at the bottom seem to get caught all the time. But then I suppose a majority did vote down the constitutional amendment to give more power to the Dail to carry out enquiries.

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  • pagan 16/07/12 #

    In the name of god what is wrong with this country.We couldn’t organize a piss up in a brewery.Why all the stalling over this.Is it because most political partys are linked up with a builder or a ceo of a bank and they don’t want there party’s name dragged through the mud.Well here’s news for you all sitting in the dail on your over paid pension and wages.Your name is already mud.

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    • Pagan did you vote in the Referendum that denied the politicians the right to enquiries and are you aware of its outcome. These are not hard questions but the simple and factual answers make your loaded and sarcastic question rather meaningless and unnecessary. Politicians promised to undertake this enquiry and the public denied them that opportunity without amended legislation that is difficult or another referendum.

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    • Fagan's 16/07/12 #

      Pagan. We can, to keep deferring investigations, hampering them, ensuring that the endemic corruption that feathers the nest of a select few here, that 40% of the people born here have had to emigrate, that control and power and wealth are protected among a small few. That is damn hard work to make sure that it happens and stays that way. Protecting a rotten status quo is as challenging as overthrowing one but FG/FF are masters of it.

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  • We don’t need a banking enquiry, we need the names of the bankers who signed off on the biggest loans that are now with NAMA. Easy, shouldn’t take up any time or cost a penny!

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  • No problem it’s called fraud squad.

    About making laws to indemnify bankers pull the other one.

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  • To be honest I don’t see the point in holding an inquiry into what went on if the inquiry cannot find people responsible. Otherwise what’s the point? Those who made mistakes or were badly advised need to be held to account. From my understanding the proposed inquiry will not be able to do that or draw conclusions so it will be a waste of time and resources.

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  • TheClyde 16/07/12 #

    It’s getting to the point where I can hardly bring myself to read about the shambolic machinations of our political and legal classes, but sometimes I think, that’s their plan.

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  • The only politician that can be trusted to meaningfully investigate the banking collapse is John Mc Guinness. He would excel but that said, these enquiries cannot and do not achieve what the public is duped into believing they set out to do.
    What’s needed is a proper white-collar fraud squad and Garda Commissioner with the will to take on white- collar crime and his/her political masters.
    As it stands, the Fine Gael government is using its power to protect donors and so the status quo. Enda Kenny promised change but he is being propped up by a privileged unelected incompetent cabal of senior civil servants. The circus will go on and on.

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  • So four years later, and it is now we are having this conversation? Good gravy! If it were poor people who defrauded the state of the €100 billion or whatever it will be, does anyone believe it would take even 2 months to jail the culprits? I seriously doubt it…..Golden circle circling their golden wagons of swag!

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    • & this a matter of days after Heir Kenny states he does not wish the banks to be investigated regarding their part of this scam, only FF…the absolute nerve of that traitor, still looking after the corrupt central bankers who live off us all like a leech while pointing their grubby accusing fingers at the unemployed, which they themselves created… Sick wasters…..

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  • CSEC BIO 16/07/12 #

    This is a stalling tactic. Political Ireland does not want an enquiry into the economic meltdown. Why? Finns F?il politicians would be found to be asleep at the wheel, Fine Gael would be guilty of well do nothing, saying nothing and following the previous government in protecting the rich. The people want justice, political big wigs want to stop it or at least delay it until the current crop have retired, by which time the economy will have recovered or people will be busy trying to get just enough money to survive that an enquiry will be the last thing they would want. Charge the lot of them bankers and the political classes and let judge and juries made up of long term unemployed decide.

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  • pagan 16/07/12 #

    @Mick Collins
    Yes I did vote in favor of politicians to investigate things like the banking scandal.
    But to be fair its like asking the Guards to investigate the Guards,The out come might be the right or wrong one but people won’t believe the answer as it was handled internal.So politicians investigating each other would be a wast of tax payers money.

    Reply

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