Dempsey likens bankers to Cromwell

IN A rabble-rousing tee-up to the Taoiseach’s Ard Fheis address Transport Minister Noel Dempsey gave the Fianna Fáil faithful the battle cry they craved — comparing bankers and property developers to Oliver Cromwell.

To delighted supporters he said a small number of “money manipulators” had endangered Ireland’s economic survival.

“There’s no parallel in history for the damage they have done to this nation — except perhaps Cromwell.

“And even Cromwell was motivated by reasons other than personal gain,” he said.

In a speech light on facts but rich on rhetoric he energised the party delegates minutes before Taoiseach Brian Cowen entered the Citywest venue. Mr Dempsey told the crowd the party of government had to expect anger from constituents.

And he torpedoed any effort to pacify the opposition by accusing them of “cheap dramatics” during the banking crisis.

“Fine Gael and the Labour Party will some day regret the way they danced around a wounded economy.

“They will some day regret the way they happily spread a dangerous message to the world about a country they claim to love and to serve,” he said.

It was not the first time Fianna Fáil turned to Cromwell in a crisis.

Two years ago when Aer Lingus pulled its Heathrow flights from Shannon embattled Defence Minister Willie O’Dea likened the airline’s chief executive, Dermot Mannion, to the man who planted Ireland.

But while Mr O’Dea was forced to apologise, Mr Dempsey said his accusations that the bankers committed economic treason was not “over the top”.

Mr Dempsey said it was inevitable for Fianna Fáil, after being in government for so long, to have friends in banking and construction.

But he said that did not mean the party was “guilty by association”.

“Knowing someone does not mean you share their vices or their practices. Knowing a banker or a developer does not mean you tolerate bad practice or rule breaking.

“I don’t know about you but I have had it up to here with cheap-shot assumptions about members of my party. I categorically refute the unsupported rumours that Fianna Fáil approved of bank directors giving themselves huge loans or breaking any rules,” he said.

Yesterday Mr Dempsey revealed he and Agriculture Minister Brendan Smith were the two cabinet representatives who met with Sean Quinn in the months before he unwound his dangerous position in Anglo Irish Bank.

However, he said there was no discussion or approval given to subsequent share deals.

Before Mr Dempsey delivered his speech the most boisterous cheer came in response to the arrival of former taoiseach Bertie Ahern.

In a video montage played for delegates Mr Cowen said he regularly sought guidance and counsel from his predecessor who he said had a “wonderful political acumen”.