Dáil debates

Tuesday, 13 November 2012

Ceisteanna - Questions (Resumed)

IFSC Clearing House Group

4:50 pm

Photo of Micheál MartinMicheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

My question was whether pensions and salaries were discussed. Outside the financial world there is a significant sense that these people have set their own rates, globally. If we look at history, at the late 1920s and the analyses of the Wall Street Crash, the raison d'être and entire approach of the financial sector has been to create products and services that nobody - allegedly - could understand except the experts within the sector. They were the experts and because the layperson could not ever achieve their level of intelligence they dictated what the pay norms in the sector were. Their position was that they deserved these extraordinary sums of money and pensions because they are a super-league kind of people who can devise the most imaginative-----

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