Banking Inquiry week 18: Former financial regulator’s sorry performance

Neary’s profuse apologies don’t quite hack it when you supervised a banking system that had to be bailed out to the tune of €64 billion – and still there are no answers

31st May, 2015
Banking Inquiry week 18: Former financial regulator’s sorry performance
Patrick Neary: had little to divulge over nine hours at the banking inquiry last week. Picture: Photocall

Patrick Neary’s marathon nine-hour appearance at the banking inquiry last week will live long in the memory. Seventy-four mentions of “recall” or “recollection” – largely in the context of “I don’t recall” or “that’s not my recollection”. Fifty-four mentions of the “principles-led” regulatory system which relied on the word of banks as a cornerstone of the state’s financial architecture....

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