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Government protecting failed bankers’ high pay

6 October, 2011 - by Mary Lou McDonald TD

Speaking in the Dáil this morning Sinn Féin Deputy Leader Mary Lou McDonald TD called on the Tánaiste Eamon Gilmore to explain why 22 senior Anglo executives who presided over the bank’s collapse remain employed by the bank.

Deputy McDonald said:

“I want to know why 22 of the 50 senior people who were employed in Anglo at a time when it was at the height of its dangerous casino capitalism can remain employed by the bank, and why 19 of those still employed receive salaries in excess of €175,000.

“Anglo is now a nationalised bank, although toxic and the root of many of our evils. How can these executives receive such high salaries and what will the Government do to end the practice?

“In the same vein, developers in NAMA are pocketing €200,000. As the Tánaiste and leader of the Labour Party, how can Deputy Gilmore preside over a scenario where people who made a material contribution to the damage done to this State and the wrecking of our economy can walk away with such big salaries while people on low wages are suffering?

“The Tánaiste and his colleagues are quick to attack people on welfare payments, accusing those out of work of making a lifestyle choice. The Tánaiste is offering some lifestyle opportunity to officials and senior employees in a toxic bank that has brought us to the brink of ruin.

“The rhetoric of the Government’s commitment to wind down Anglo Irish Bank and the Tánaiste's words of anger in respect of that bank hold no water. What will he do about the senior employees in the bank and their runaway wages?

“How can he explain to the public a Government strategy that targets people on welfare and low pay and takes a hands-off attitude to fat cats and those who have brought such tremendous hardship to the country?” ENDS

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