Corporate governance - Kid gloves for white collars unacceptable

THERE is an alarming note of special pleading about the claim by leading businessman Sean Fitzpatrick, chairman of Anglo Irish Bank, that Ireland’s regulatory regime was close to resembling “corporate McCarthyism”.

Whether he likes it or not, this sort of comment is bound to create the perception that Mr Fitzpatrick wants entrepreneurs and businessmen who create wealth to be given kid-glove treatment under the regulatory system.

In the real world, if the existing regulatory system is to command respect, there should be no question of a softly-softly policy in relation to any group, no matter how rich or powerful they may be.