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Seanad
‹ Order of Business

Bank salaries and accountability

Summary

Senator Conway supports reducing pay in taxpayer-rescued banks and seeks an update on criminal investigations into banking misconduct; brief exchanges joke about Senator Quinn’s business book.

In the private sector a company that makes money in the open market is quite entitled to set its wage limits and rates as it sees fit. We may think it is obscene but that is the free market. With banks in this country, it is totally different. I support the Minister for Finance with his instruction and, I hope, ultimatum to the banks that have been bailed out by the hard-pressed taxpayer in this country to reduce their salaries. They had better act on it fast. Perhaps the Leader could get an update for us on the criminal investigations that are taking place and when we will see delinquent bankers who brought this country to its knees face the rigours of the law and enter into court. I would like to see that happen quickly, as the vast majority of Irish people would.

It was remiss of me a couple of weeks ago not to pay tribute to Senator Feargal Quinn. I was at the launch next door of his book, Mind Your Own Business. He is a man who can be described as a creator in this country. He has created much such as reality television, his chain of supermarkets and his enlightened contributions to this House.

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Paddy Burke An Cathaoirleach Fine Gael

Is the Senator looking for a debate on this book?

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Mind your own business, a Chathaoirligh.

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