‘Bankers should be interned’

IRISH bankers who are suspected of committing economic treason against the State should be interned by special courts if necessary, according to Clare Fine Gael Senator Tony Mulcahy.

 

Senator Tony Mulcahy, who is furious with the cavalier attitude displayed by some banking institutions, who were bailed out by taxpayers, has put down a comprehensive motion at a Fine Gael Parliamentary Party meeting next week seeking the introduction of new national legislation.

The Shannon senator hopes he will get the support of Fine Gael deputies and senators to draw up new penalties to prevent a recurrence of the revelations concerning Irish banks, which emerged this week.

“Some bankers displayed a total contempt and disregard for taxpayers’ money and for the people of Ireland. Their actions have played a major role in the collapse of the Irish economy, which led to the bailout and the imposition of policies affecting this generation and future generations.

“In my opinion, the collapse of Lehman Brothers in the United States had very little to do with the collapse of the Irish economy. We have to look much closer to home and see what was really going on in Irish banks,” he said.

Senator Mulcahy will request the Fine Parliamentary Party to support the amendment and re-enactment of the Special/Emergency Powers Acts, which primarily dealt with crimes against the State.

He believes these would be expanded to tackle white-collar crime and in particular those who may have committed treason against the Irish State.

He will seek new legislation, if necessary, to intern those who may have committed treason against State pending investigation and trial to prevent them leaving the State.

In addition to freezing assets of those suspected of treason, he says that all funds paid out to same individuals be returned to the State.

He also feels strongly that all auditors and accountancy firms, legal companies and advisors who were working and advising Anglo Irish Bank, Irish Nationwide, Irish Life and Permanent from 2002 to 2010 be removed from all State contracts immediately.

Deputy Pat Breen said he could understand the anger, frustration and disgust among people in response to the terrible culture of mismanagement and abuse of public funds conducted by banking institutions up to 2008.

Stating recent revelations have portrayed a very bad image for Ireland abroad, he hoped legislation would be put in place shortly for the new Oireachtas banking inquiry and that bankers who broke the law would be put behind bars as quickly as possible once court cases initiated by the gardaí and Criminal Assets Bureau are concluded.