AIB fine shows banks have not learned lessons of the past
Why is it that Irish banks continue to breach financial regulations in speculator style?
The worst legacy of the Irish financial crisis was the narrative we invented to ease the pain of catastrophic collapse. Narratives are best when they are simple. These black and white lazy accounts of blaming someone or something else. Alas, it was said, our light-touch regulation caused the Irish banking collapse. If only we had a rules-based regulatory system etc. This fairytale story spread into the national mindset as quickly as the gorse fires which ripped through the Gougane Valley in Cork last weekend.
Independent journalism every day
With digital access you can read The Business Post whenever, wherever, and however you want.
- Unlimited access to all sections of The Business Post on desktop, tablet and mobile.
- Breaking news, comment and analysis from the best Business Post writers seven days a week.
- Live blogs of major news events
- Videos and podcasts from some of the industry's most respected journalists such as Tom Lyons, Susan Mitchell and Ian Guider
- Access to The Business Post's extensive archive
