Fingleton fiasco has left Lenihan in a quandary

Last week’s meeting between finance minister Brian Lenihan and board members at Irish Nationwide Building Society (INBS) brought into sharp focus the unusual nature of the relationship between the government and the financial institutions it is prote

28th March, 2009

Last week’s meeting between finance minister Brian Lenihan and board members at Irish Nationwide Building Society (INBS) brought into sharp focus the unusual nature of the relationship between the government and the financial institutions it is protecting under the state guarantee scheme.

Lenihan was understandably annoyed that INBS chief executive Michael Fingleton had received a €1 million bonus last November, just weeks after the guarantee was introduced. Lenihan clearly felt the payment was...

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