Central Bank financial scandals
Coghlan calls for a review of the Central Bank’s handling of the RSA and credit-union crises, highlighting the €54 million Newbridge exposure and alleged reckless lending.
I find Senator MacSharry's suggestion worthy of merit and no doubt the Leader will comment on it. In light of the two financial scandals that have been highlighted in recent days involving Royal & Sun Alliance insurance and the credit unions, I believe it would be appropriate that we would review how the Central Bank handled both in order to see what lessons, if any, were learned from previous financial calamities affecting the sector.
Comment on this
Taxpayers are exposed to the tune of €54 million because of what has happened in Newbridge. The people's trust has undoubtedly been betrayed.
It would appear to me that it was reckless lending that forced the State bailout. It is not good enough. We have to hear more from the Central Bank on the issue, which is something that we should pursue later.