The Hurler On The Ditch

Court lifts injunction in AIB case

AIB continues to be in trouble, –a lot of it their own making. RTE Business - Court lifts injunction in AIB case This will be very interesting as it should reveal some of the workings of this organisation They have brought shame on the financial services industry, not that it had a great image anyway.

It started in March 20 years ago with the ICI débâcle. They made a commercial investment and expected to make a nice profit from the deal. In the event they discovered that they had bought a lemon. They frightened the Government into baling them out at the taxpayers expense No proper cost was attached to the largesse of the State and AIB thrived with no senior executives taking the consequences of a bad commercial decision. The arrogance of the coup was staggering.

They went on to the "Dana" affair, the DIRT scam, the Rusnack disaster and then the Foreign Exchange charging scandal and the "Faldor" tax issue.

Through all these disasters their has been no Board resignation's. Have they no shame?

posted by Hurler @ 7:16 pm