Monday, December 28, 2009

Chair of Irish Nationwide comes to his senses

Great to see that the Chairman of Irish Nationwide has joined the rest of us: he no longer expects Michael Fingleton to repay the €1m bonus they paid him on his departure. It took me about 5 seconds to work out that the man in charge of the building society for the past quarter century or so knew full well what state the finances were in when he took the €1m and knew how to ensure that no one was going to get that €1m back after he got it. Why would anyone ever have expected him to repay?