Letters to the Editor: Bonuses for bank bosses a kick in the teeth for taxpayers

Letters to the Editor: Bonuses for bank bosses a kick in the teeth for taxpayers

Banking bonuses are an insult to those ordinary working citizens who are experiencing the cost of living crisis.

There is nothing more galling than private companies which were bailed out by the taxpayers of this country rewarding their top executives with bonuses.

Bonuses for what?

Bonuses for dropping us into the mire with their out-of-control lending practices that drove brainwashed customers to penury or saw their homes repossessed.

We have seen over many decades that each time there is a financial crisis the hard-pressed taxpayers of this country have been scapegoated by executive/government for the malpractices of private institutions and individuals, who through their own selfish interests, for lack of proper regulatory oversight, took advantage of the slipshod approach to lending practices, while surrounding themselves with riches and assets beyond their dreams.

Now we see the return of exorbitant bonuses to executives in banks that drove us to virtual bankruptcy.

This is another kick in the teeth to those ordinary working citizens who are experiencing the cost of living crisis and many other difficulties, those at the top of the money tree cannot even imagine.

We are still paying for those mistakes through levies and taxes imposed on us, yet we have a certain affluent elite who lack any real concern for the struggles of others while rewarding themselves with bonuses and other riches.

Christy Galligan


Co Donegal

Uncapped incomes for next set of ‘risk takers’

I am in despair. As a taxpaying citizen who involuntarily bailed out the Irish banking system I’m now being informed that bankers’ salary caps could be removed and staff bonuses are being reinstated.

An Taoiseach and the Minister for Finance are totally unapologetic; apparently, banking regulation has been improved beyond measure and any future lossmaking will be borne by the shareholders.

Therefore, as the rationale goes, the only means of attracting “the right people” into the sector is to remove the paltry income limit of half a million euro and to award the ground troops bonuses of up to €20,000.

How has this madness evolved? The banks were rescued from their own ruinous and reckless behaviour.

The banking sector knows full well — despite the alleged regulation improvements — that in the event of future banking crises, the EU and the State will take exactly the same bailout measures as before.

Great comfort for the next generation of ‘risk takers’ on multi-million uncapped incomes.

It’s absolute lunacy.

Larry Dunne

Rosslare Harbour

Co Wexford

Drunk UCC students show no respect for local residents

The local resident population were once again subjected to widespread any-social behaviour in the region on Thursday, Nov 24 with UCC students having what is affectionately known as Christmas Day from early morning.

From early morning queues formed outside pubs in the region and in the early afternoon some of these pubs turfed them out onto the streets where loitering, drunkenness, overturning bins, and excessive noise became part of the equation and house parties followed.

The lack of respect for the residential community, small in numbers and many elderly, is nothing short of disgraceful.

This region is not a holiday resort. This community is entitled by law to enjoy the peace and tranquillity of their family homes and the region they reside in.

The authorities continue to treat these offending students with kid gloves with little or no consequence for their behaviour.

It is also a disgrace that most of our elected representative are so silent on these very serious issues.

Name and address with editor

Renting compromised by over-regulation

Christy Galligan of Letterkenny recently wrote to letters that “the housing crisis” is not really a crisis at all as there plenty of vacant houses around the country but very few are available for rent. I have also observed that there are many vacant houses dotted around the country down here in the south. There are also many closed shops in towns where the owners used to live overhead that are also vacant and just sitting there. When one occasionally asks an owner if they had considered renting, the usual response is “ah, it’s too complicated” meaning that the category has become over-regulated and the owner virtually loses control of their asset.

The Government now sets the conditions and regulates who one shall rent to, who one cannot refuse, how long the lease must be, what the house must contain and the tenure of the lease meaning that the renter, rather than the owner, now controls the asset. Once HAP is involved, another set of regulations comes into effect and one’s property is treated as social housing.

In the past, a formal lease agreed between both parties governed the conditions. Now, however, the Government has superimposed a whole raft of regulations that have brought that market to a standstill. They wish to partially blame Airbnb but the that market has developed in response to the vast increases in tourism that we have seen over recent years. The crisis in our rental market is self inflicted and government only tinkers on the sidelines to solve it.

Desmond Sharp Bolster


Co Cork

Irish neutrality being eroded by FG and FF

Too many generations of Irish men and women have fallen on foreign soils in the service of kings and queens for which they were nothing more than convenient cannon fodder.

Fine Gael and Fianna Fáil have been eroding Irish neutrality for years by allowing warplanes to refuel at Shannon and they have also been steering public opinion in the direction of making the Defence Forces available for EU deployment.

Having young men and women fight in wars would be a grave mistake.

Noel Harrington


Co Cork

Fine Gael decimated our Defence Forces

Fine Gael councillor Ted Lucey calls for the Army to be deployed to repair potholes — ‘Potholes so bad ‘the army would have to brought in to fill them all’’ (Irish Examiner, November 30). Another daft suggestion by someone who doesn’t understand or value the purpose or duties of the Defence Forces.

Someone should remind Mr Lucey that his party have been in government for over the last decade and not only are the roads not fit for purpose, but Fine Gael have also managed to decimate the Defence Forces, which are also not fit for purpose.

With a barely functioning Naval Service and every Defence Force unit under strength, it’s a pretty damning indictment of the management of the defence portfolio during their period in office.

Conor Hogarty


Co Dublin

Early expectation of Easter eggs

With many houses displaying Christmas lights, etc, this past few weeks, I confidently expect to see Easter eggs in the shops any day now.

Tom Gilsenan


Dublin 9

Irene Cara lit up the dark, depressing ’80s

I felt a sense of enormous sadness when the death of singer/songwriter Irena Cara was announced last weekend.

Mostly known for her iconic hits ‘Fame’ and ‘Flashdance…What a Feeling’. Her songs became a pop cultural phenomenon which created legendary dance scenes.

For a generation of 1980s teenagers like myself, Irene Cara had us learning how to fly at the local youth clubs, discos, and dance halls. This new type of dancing had us practicing our routines behind our bedroom doors. It brought a new style into my small conservative town with us young ones donning lycra and fluorescent leg warmers.

We religiously watched the TV series Fame which was shown on RTÉ 2. In a pre-MTV and streaming era, there wasn’t a lot of television geared toward teenagers, but this show, with its theme tune, sung by Cara, was a new anthem. The show focused on a bunch of ambitious, artistic kids and their struggles in New York, a far cry from the rural community school I attended on the Beara Peninsula. Cara told us to follow our passion and make it happen. However, the reality of that time, in a depressed country told us otherwise. The news grew grimmer by the day, with poverty and deprivation making the headlines. Immigration was happening in my area at an alarming rate. Every week there was news of more young ones heading off on buses, boats, and planes to the bright lights of England or America. They weren’t intending to enrol in a fancy dance academy but going for work, any type of job would do, especially when the unemployment lines were growing daily. For school kids about to face the real world, it was a precarious time. Most of us knew we would be faced with little choice but to leave our homeland hoping to make a better life.

But for a few hours on the weekend at the local disco Irene Cara told us to light up the sky like a flame, which was a nice sentiment that meant something while dancing with my mates before we were all about to leave the nest and fly away.

Remember her name.

Maria Henry


Co Cork

Courts need to crack down on thugs

The discussion about arming all gardaí is a non-starter. We already have armed gardaí In ARU/ERU branches, That should be sufficient to deal with any armed threat.

The recent assaults on gardaí is nothing new. The deterrent must lie within the judicial system that has gone soft on this type of thuggery.

Christy Galligan


Co Donegal

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