Indecision a sign of poor judgement - Banking inquiry

THERE can be absolutely no doubt that an already questionable banking inquiry would have become a laughing stock in the eyes of the public if former Anglo Irish Bank chief executive David Drumm was allowed to tell his account, on his terms, by video link from the US, of its role in the country’s economic crash. As it turns out, both the inquiry’s own legal team and the Director of Public Prosecutions have advised it strongly against hearing his evidence.

This leaves the members with no option at today’s meeting other than to reject Drumm’s self-serving offer to address them by video, an initiative aptly described as wickedly devious and extremely clever. Ironically, this turn of events has effectively prevented the inquiry from interviewing any senior Anglo executive. It also vindicates the stance taken by two members of the inquiry who threatened to walk away from the hearings if the ex-Anglo chief was facilitated in addressing Wednesday’s session of the inquiry.

Their gut instinct was the right one and contrasts starkly with the noncommittal position of other members amid a flurry of political manoeuvring. It means embattled Fianna Fáil can breathe a rare sigh of relief because the former banker will not be seen to contradict ex-taoiseach Brian Cowen’s denial of lobbying by Anglo board members.