After the #AngloTapes revelations, “you cannot put people in jail for stupidity…”

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This a great conversation from last night’s Prime Time Special (apologies for cutting out Paul Williams of the Irish Indo who’s scoop is driving most of this renewed and energetic discussion)…

Worth highlighting is Colm McCarthy’s point that whilst any Irish citizen can download a 2000 page report of the collapse of Lehmann Brothers, there is virtually no bank by bank explanation as to how every single bank in the country had to be bailed out by either the Irish or the British taxpayer…

Antoin Murphy notes here that the proposed parliamentary investigation will (under current constitutional position) be severely undermined by the limited powers available to the Oireachtas to compell witnesses from abroad to attend, or even to draw adverse conclusions against individuals.

Noel Whelan argues that there is little reason why there has been no bank by bank inquiry, then goes on to suggest that people want is: clarity, catharsis, context (the wider culture that led to the disaster) and convictions.

And as you get to the end, Antoin Murphy points out the bleedin obvious, ie that most of what happened was stupidity, not illegality, “and you cannot put people in jail for stupidity…” He also points out that in the onrush to put people in the public stocks, what generally happens in that small fish get snagged and the big fish generally get away…


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