The Frontline 21-3-2011 - RTE Player 21:46
Pat Kenny:[1] “There is another problem which is for another day but alcohol seems to be central to everything we do and that is right from the top to the bottom and it does affect the quality of our decision making.”
So let’s look at some of the people that carry some responsibility for the current financial crisis and see if you can pick out the drunkards.
John Hurley, Michael Neary, Eugene Sheey, Brian Goggins, Dennis Casey, Dr Michael Walsh, Michael Fingleton, Sean Fitzpatrick, David Drumm, Dept. of Finance, the entire Boards of the following AIB Plc, BOI Plc, Anglo Irish Bank Corp., Irish Life and Permanent Plc, Irish Nationwide Building Society and of the Educational Building Society. Were they all piss heads, as Pat Kenny suggests?
Time Magazine blames the following 25 people for the Financial Crisis: Angelo Mozilo, Phil Gramm, Alan Greenspan, Chris Cox, American Consumers, Hank Paulson, Joe Cassano, Ian McCarthy, Frank Raines, Kathleen Corbet, Dick Fuld, Marion and Herb Sandler, Bill Clinton, George W. Bush, Stan O'Neal, Wen Jiabao, David Lereah, John Devaney, Bernie Madoff, Lew Ranieri, Burton Jablin, Fred Goodwin, Sandy Weill, David Oddsson and Jimmy Cayne.
I wonder if there is a drink culture in these organisations?
Fannie May, Freddie Mac, AIG, Lehman Brothers, Royal Bank of Scotland, Northern Rock, Hypo Real Estate, Standard & Poor’s, Moody’s, Fitch Ratings, Goldman Sachs and many more.
Not to forgetting the Gaussian Copula (mathematical formula for evaluating risk), the real alcoholic substance that got all the financial Gurus drunk.
Could it be that Pat was just the victim of the oldest prejudice? A nation prejudiced against itself, the curse of being born Irish.
[1] responding to comments from John Mooney Security correspondent of the Sunday Times on culture of corruption.
