It’s good to see that the jurors showed moral courage as directed by the judge and acquitted Seán Fitzpatrick on all charges. I’m now going to retract everything I ever said about the banks and the Irish economy.
None of the Irish banks did anything wrong. There was no travelling roadshow of money going from bank to bank to fool the auditor. Anglo lent money to the Maple Ten simply because it seemed like a great business idea at the time. It had nothing at all to do with propping up the bank. The financial regulator kept all the banks under close scrutiny and Anglo executives never ridiculed him in private. They also don’t know the words to Deutschland Uber Alles.
The financial regulator was probably the best in the world. The Irish bankers were probably the most efficient bankers the world has ever seen. The government was absolutely right to indemnify their bondholders, especially since there was no collapse and no money was handed over.
Not only that, but Anglo and Irish Nationwide are fine, well-run banks that remain in business to this day. There is no crisis, the Troika never visited Ireland and we have 100% employment. Sean Quinn is still the richest man in the country and runs a thriving insurance company among many other enterprises. Property continues to boom and developers continue to enjoy the fruits of their magnificent vision.
Oh, and Bertie Ahern is still Taoiseach.