Those culpable for the Irish banking crisis and subsequent economic collapse may never be formally identified or brought to justice. With the promised banking enquiry yet to materialise, it’s almost inevitable that the most we can expect in this country is protracted tribunal style investigations, interminable reports and an ultimate conclusion of systemic failure. We were all responsible, so no one’s really responsible.
But what is clear is that the banking regulator, the Central Bank, failed abjectly in their role of providing oversight and accountability to the sector.
But hey, it’s Ireland, so what consequences have they faced? We wrote previously about the generous bonuses they paid themselves, and now it is reported that their staff numbers have doubled to over 1400 since the crisis.
This explosive growth surely necessitates a move to bigger, more salubrious offices and inevitably we hear they are planning a move to the building ear-marked for the new headquarters of the ill-fated Anglo-Irish Bank (one of the major villains in the aforementioned collapse).
This move will also comprise a €140m office refit, to include a penthouse restaurant, landscaped terrace and a wellness centre where employees can enjoy pilates, yoga classes and perhaps meditation on the fulsome fruits of failure.