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19/08/2010
Fingleton Apologies 'Not Good Enough' Says Labour
Former Irish Nationwide chief Michael Fingleton has issued an unprecedented apology for his bank's role in the Irish banking crisis, but his lament has been rejected by a senior Labour TD.
Speaking after Mr Fingleton's interview yesterday during which he issued his apology, Labour Deputy Leader Joan Burton said the former Nationwide chief's words were "simply not good enough".
Speaking last night, Mr Fingleton admitted he had a "sense of remorse" about what had happened to the country as a result of events in Nationwide and other financial institutions.
His comments came after Central Bank Governor Patrick Honohan hinted this week the final cost to the taxpayer of Irish Nationwide's bailout could rise to more than €3bn.
However, there was still anger about his failure to comment on a bonus he accepted since leaving his job at the bank.
Speaking today, Ms Burton said: "Mr Fingleton admitted he had a sense of remorse about what happened as a result of events at Nationwide, however he failed to comment on his failure to return his €1m bonus as promised."
Back in March last year, Mr Fingleton said he was entitled to the payment, but wanted to repay it "because of the effect on my family with a continuing 24-hour media siege on my home". But despite extensive correspondence with Irish Nationwide over the past year and a half, the bonus has not been repaid.
Fine Gael deputy finance spokesman Kieran O'Donnell said last night that ordinary people were looking at this situation while their jobs were at risk and their homes in negative equity. "That €1m is an outrageous figure and should be repaid," he said.
(DW/KMcA)
Speaking after Mr Fingleton's interview yesterday during which he issued his apology, Labour Deputy Leader Joan Burton said the former Nationwide chief's words were "simply not good enough".
Speaking last night, Mr Fingleton admitted he had a "sense of remorse" about what had happened to the country as a result of events in Nationwide and other financial institutions.
His comments came after Central Bank Governor Patrick Honohan hinted this week the final cost to the taxpayer of Irish Nationwide's bailout could rise to more than €3bn.
However, there was still anger about his failure to comment on a bonus he accepted since leaving his job at the bank.
Speaking today, Ms Burton said: "Mr Fingleton admitted he had a sense of remorse about what happened as a result of events at Nationwide, however he failed to comment on his failure to return his €1m bonus as promised."
Back in March last year, Mr Fingleton said he was entitled to the payment, but wanted to repay it "because of the effect on my family with a continuing 24-hour media siege on my home". But despite extensive correspondence with Irish Nationwide over the past year and a half, the bonus has not been repaid.
Fine Gael deputy finance spokesman Kieran O'Donnell said last night that ordinary people were looking at this situation while their jobs were at risk and their homes in negative equity. "That €1m is an outrageous figure and should be repaid," he said.
(DW/KMcA)
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22 April 2010
Cowen Supports Fingleton Bonus Recovery
Taoiseach Brian Cowen has given his support to the recovery of the €1 million bonus paid to the former Irish Nationwide boss Michael Fingleton. Speaking in the Daíl, Mr Cowen again defended his handling of financial regulation, saying everything that could be done would be done to recover the highly controversial €1m bonus.
Cowen Supports Fingleton Bonus Recovery
Taoiseach Brian Cowen has given his support to the recovery of the €1 million bonus paid to the former Irish Nationwide boss Michael Fingleton. Speaking in the Daíl, Mr Cowen again defended his handling of financial regulation, saying everything that could be done would be done to recover the highly controversial €1m bonus.
24 March 2009
Nationwide Directors Get Visit From Lenihan
The Finance Minister has landed on the door step of the two State-appointed directors at Irish Nationwide, after a series of revelations over directors pay.
Nationwide Directors Get Visit From Lenihan
The Finance Minister has landed on the door step of the two State-appointed directors at Irish Nationwide, after a series of revelations over directors pay.
04 September 2009
Fianna Fail Slam Fingelton Over Bonus
The Government have attacked ex-Nationwide boss, Michale Fingleton over his failure to repay a €1 million bonus. Cork TD Michael McGrath called on Michael Fingleton, the former Chief of Irish Nationwide Building Society, to fulfil his promise to repay the €1 million bonus to the building society. "It is deeply disappointing to learn that Mr.
Fianna Fail Slam Fingelton Over Bonus
The Government have attacked ex-Nationwide boss, Michale Fingleton over his failure to repay a €1 million bonus. Cork TD Michael McGrath called on Michael Fingleton, the former Chief of Irish Nationwide Building Society, to fulfil his promise to repay the €1 million bonus to the building society. "It is deeply disappointing to learn that Mr.
18 February 2009
Mortgage Approvals Slump As Bank Scandal Continues
The Irish Banking Federation (IBF) says the number of mortgages being issued in Ireland fell by 30% last year. The news comes on the day after Irish Nationwide's Chairman Michael Walsh submitted his resignation over the ongoing scandal among many Irish banks.
Mortgage Approvals Slump As Bank Scandal Continues
The Irish Banking Federation (IBF) says the number of mortgages being issued in Ireland fell by 30% last year. The news comes on the day after Irish Nationwide's Chairman Michael Walsh submitted his resignation over the ongoing scandal among many Irish banks.
15 December 2008
Banks Bailed Out
Around €10 billion is to be pumped into the Irish Republic's banking system by the Government in a bid to recapitalise all its listed banks. The money will be available to AIB, Anglo-Irish, Irish Nationwide, Irish Life & Permanent and Bank of Ireland, which owns the Bristol & West Bank.
Banks Bailed Out
Around €10 billion is to be pumped into the Irish Republic's banking system by the Government in a bid to recapitalise all its listed banks. The money will be available to AIB, Anglo-Irish, Irish Nationwide, Irish Life & Permanent and Bank of Ireland, which owns the Bristol & West Bank.
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