Failing to act in the public interest

THE revelation by Finance Minister Michael Noonan that the public interest directors on the boards of the banks do not report to the Government, is as sickening as it is unsurprising.

He explained that “their job under company law is to bear the interests of the institution on whose boards they serve in mind, and that’s their priority”.

How then can they be called ‘public interest’ directors? If it is in the interests of the banks to lie to, and cheat the public, these puppets must have the interests of the banks first and go along with the scams.

It is no mistake, then, when we read of massive pay-offs to failed directors of our banks and rate rises for the public to cover this largesse. The public interest directors are voting for it.

I thought Fine Gael promised us change.

John Mallon

Mayfield

Cork