JONATHAN SUGARMAN – A BANKER SPEAKS OUT

In Sept. 2007, fourteen months before Ireland’s bank bailout, I resigned from my position as the Risk Manager of UniCredit Bank Ireland. I did that in order not to incriminate myself. I have spent the last 4 years seeking justice. On Feb. 23rd., 2010, I was fortunate to have Senator David Norris raise the matter in Seanad Eireann (the Irish Senate), and request a response from the Minister of Finance, Mr. Brian Lenihan. Senator Norris concluded by stating that:

“…there is ministerial responsibility in this matter. This is a grossly serious matter which has been reported to the Financial Regulator. A man has lost his job as a result. He honourably resigned. The degree of breach was 40 times the accepted margin. This is a disaster. If we are not prepared to face the issue and investigate it when it has been laid before the House, there is absolutely no hope for the financial system or its reputation worldwide.

I have made very clear requests that this matter should be examined. How can the Financial Regulator investigate himself? He was in breach of his responsibility. That is the first point. The second is that the bank must be pursued and that the honour of the man whose reputation has been traduced must be restored. It is not too much to ask in this Parliament that this should happen. I want the process to start tonight.” Website

http://debates.oireachtas.ie/seanad/2010/02/23/00012.asp

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