Banking Inquiry week 18: Why Patrick Neary’s testimony was both relevant and irrelevant

Banking Inquiry week 18: Why Patrick Neary’s testimony was both relevant and irrelevant

What is left to say about Patrick Neary? The former financial regulator is now six years into retirement, enjoying an annual pension of €114,000 and a reported salary severance of €630,000.

This time and money do not seem to have promoted any self-awareness about any possible personal responsibility for the failure of regulation.

Neary’s apologies were always prefaced with reference to the “system of regulation” or the “supervisory measures taken by the authority”.

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