Oireachtas Joint and Select Committees

Thursday, 20 December 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Role and Contribution of Public Interest Directors in Financial Institutions: Discussion

11:15 am

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

Given that, does Mr. Walsh understand people's rage about this? They have put €4.8 billion into the Bank of Ireland. The chief executive is still paying himself 20 times the average industrial wage, and more if one includes his allowances and expenses. Since the crash the witnesses have got €0.5 million for being public interest directors on the board and yet the people who paid for the bailout of the banks, and effectively for the salaries of Mr. Boucher and the witnesses through that bailout, are still on their knees in mortgage distress and in small and medium businesses that have been crushed. The witnesses tell us they have to preserve the best interests of the bank and that somehow that will be good for us all in the end. Do they not understand how people view that and why they believe nothing has changed, that they are still being screwed and the same people who were in charge are still in charge and are well protected? Do the witnesses understand how people feel?

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