Shane Ross (Independent)

To some extent, I endorse what Senator Donohoe and others have said about the Central Bank report. However, I am amazed that they are amazed about it. It is somewhat difficult to believe they are shocked or surprised because that is the way bankers behave. The Central Bank report was relatively mild because the bank pulls its punches when it raises these issues. In effect, the report indicates the banks are regrouping. The bankers have been travelling under the radar for the past 18 months, but they are up to their old tricks in rewarding themselves with unjustifiable bonuses at remuneration committees. Bonuses are awarded for acquisitions rather than avoiding risk. It is not a surprise.

The Government shares a large part of the blame for what is happening inside the banks. Token gestures have been made in terms of a few heads on plates at the top of the banks. The banks made a virtue out of capping salaries at €500,000 or €600,000. The taxpayer is paying the people concerned who are, basically, liquidators, €10,000 a week. They include those who work for Anglo Irish Bank. We should not be surprised.