Investigate the banks, but also the bankers
A regulatory system that fined individual bankers and not just the banks might actually change behaviour.
The chair of the Irish Fiscal Advisory Council, John McHale, made his remarks at the Irish Economy Conference on Wednesday. The Professor of Economics at NUI Galway said the banking inquiry was a “timely and useful reminder” of the forgotten lessons from the 2008 economic crisis.
The secretary general of the Department of Public Expenditure and Reform echoed this sentiment. “As the memories of the crisis fade, will some of the messages endure?” asked Robert Watt.
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