Bankers’ sentence - Saved by the State

Judge Martin Nolan’s remarks, that it would be unjust to jail former Anglo Irish bank executives William McAteer and Pat Whelan given “a State agency had led them into error and illegality” confirm the impression that this was something of a show trial.

What does not need confirmation though is that this country was brought to its knees by reckless bankers who encouraged greed bordering on insanity. It is not necessary either to confirm that there are, as is usual, no consequences for those employed by the State to regulate financial systems even if their performances border on the treasonous.

It would be nice to believe that the lesson has been learnt and that we now have legislation strong enough to prevent a recurrence. Have we? Why not?