Seanad debates
Wednesday, 1 October 2008
Credit Institutions (Financial Support) Bill 2008: Committee Stage.
6:00 pm
Paul Coghlan (Fine Gael)
On Second Stage several Members referred to the excessive remuneration for apparent short-term success in the banks. The Minister acknowledged that the success was doubtful because we know these successful managers did not provide properly and prudentially for bad and doubtful debts. They under-provided for and under-declared them. I agree with other Members that the admirable solution for the Minister would be to accept the suggestion made by Senator O'Toole.
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