Secret Banking Inquiry? Shows how obedient we are that they even propose it.

So, Fianna Fáil wants to hold the Bank Inquiry in secret?
Of course they do. Not for any decent reason (to get more evidence)
but the usual formula;

• to control what is made available to the public
• as an excuse not to answer questions ("that's under review by the inquiry, I wouldn't like to prejudice that process")
• and when the whitewash is done, to point at the conclusions that there were systemic faults but no personal blame can be attached to anyone, unless they've already been laid low enough to be used as sacrificial lambs.
  

And the Irish public will probably let them do it too.

Never mind that the 'Financial Regulator' didn't do his job -

• he carried out less than 25% of the checks he should have
• he didn't check that the banks were being prudent (and before being regulator, he worked in the prudence section of the Central Bank)

He got a lovely big payoff when he retired, rather than being fired for incompetence and lack of productivity. Was it hush money?
Obviously the Minister for Finance and the Government allowed this situation to go on, because in the short term it created jobs, and grasping politicians always think in the short term. Let the next govt deal with the burst bubble, and we'll blame it on 'external factors'.
We know it wasn't just external factors.

If I build my house from straw cos I see the little piggie next door doing it, I can't blame the wolf for blowing it down. Not if I'm being (over)paid to be an expert in solid homebuilding.
Property bubbles have happened before, and plenty of people gave warnings. It's not that the government didn't understand, nor see it coming, they just milked it for every last drop, after all, they are not personally suffering the effects of it. We are.
Now, the Irish bankers will try to act like innocent victims of a financial earthquake, having no more blame for the situation than the residents of Haiti.
Well it's untrue. They either willfully ignored the signs by greed, or worse, ignored them because they knew they'd get a bailout, or be protected by moving assets offshore.

What will a FF inquiry do?
Cost us money, and fudge the issue.
They will of course have a 'public' part of it, where the watered down 'evidence' is presented to the Oireachtas, for a muted debate in limited terms of reference.

I propose an alternative inquiry.
We, the people paying for NAMA, call an inquiry, and we invite the bankers to come testify before us.
We ask the questions. No lawyers, no jail time, no fines.
If we're not happy with the questions, or they ignore us, then those of us that can, simply close our accounts and open a new one somewhere else.
Ideally if everyone at your workplace feels strongly enough, get payroll to stop paying you to your bank account, and pay by cheque so you can lodge it to your credit union account.
(yeah that's a bit less convenient than automatic transfer, but taking your power back isn't without efforts)

or, if you're stuck with your bank cos of mortgage commitments, why not try this.
What money you have left over after paying your mortgage each month, pull it out of their bank. Keep it in a box or the credit union, but don't let them keep it on deposit.
Starve them of funds until they pay attention to us.

That requires a lot of people to sign on to it to be effective. Do Irish people yet have the collective cop on to know that rather than moan about being screwed by bankers and politicians, they have to DO something about it?
Crying into a pint never solved a damned thing in this country.