Anglo investigation - Frustrating decision

The decision yesterday by the High Court to extend for another year the investigation by the Director of Corporate Enforcement into the collapse of the former Anglo Irish Bank is more than frustrating for anyone who wants to see our justice system work effectively.

Though some developments have taken place in the saga — it now most certainly falls into that category — the pace of the investigation and the possibility of some of those at the centre of our economic collapse facing something approaching consequences for their actions, if they are found to have been illegal, seems more and more remote.

It is hard not to imagine, despite the many loud protestations to the contrary, that there is not something approaching a lack of enthusiasm for the idea that senior banking figures, many entwined with the politicians of the day, might have their day in court. Indignant protestations to the contrary are rendered impotent by the facts of the situation — five years after the collapse we still await a single prosecution. Even in our snail’s pace justice system it would be very difficult to point to another equally important issue that has taken so very long to come under starter’s orders.