Incompetence of our politicians and bankers

I’m in Café Java, Blackrock, among some of south Dublin’s elite. I should be privileged. My Latte will be downed by the time most of the clientele here will have finished their bruschetta. Talk around me is about stocks and shares and there is a coterie of Yummy Mums around. Before setting out earlier, I heard a bit of (listening would be too kind) Pat Kenny’s radio programme. Noel Whelan was being asked to comment and analyse the latest polling. Unsurprisingly Fianna Fail is on the back foot and Labour are now ahead of them in the polls.

Apparently Eamonn Gilmore is favoured over Enda Kenny as being the alternative Taoiseach (no, not a gay icon!). The purple faced socialist is now the man of the moment. But Enda Kenny is looking more and more vulnerable in his position as chief leader of the opposition. He needs to be replaced.

But would change at the helm in Fine Gael really do any good for his party or, more importantly, the country? Kenny is a nice man but he, it’s obvious, has no charisma. If you put him up beside a whitewashed wall there would be no contrast, he’d fade away. At a time like now Ireland needs leadership from someone with character and Mr Kenny is not the man who will provide that. He, along with the other political leaders in this country, doesn’t inspire us at a time when we need inspiration badly.

Even though our leaders have little to offer, it is of paramount importance that no unnecessary elections should occur. Leadership or otherwise. But of course we have European and local elections to endure and it won’t do our politicians any favours on the doorsteps. They can expect boiling anger over the cuts and diminution of services around the country. National government may be the best way of handling the economic crisis we find ourselves in, but who to lead? To borrow a cliché: Cowen, Kenny and Gilmore couldn’t run a bath between them. None of the three musketeers display any real character.

However there are others in opposition that might bring some talent to a cross-party cabinet. Richard Bruton (FG) and Joan Burton (Lab) being two that spring to mind.
Last week it was reported by RTE news that: “Employers’ group IBEC has called for the government to engage with the main Opposition parties and the social partners to agree on a national recovery plan for the economy.”

On TV3, last week, a former leader of Fine Gael, Alan Dukes, was asked about a plan to have a national government. Mr Dukes said it was up to the Taoiseach to initiate this process, not the Opposition. He is right. Mr Cowen is behaving like a once wealthy person that has fallen on hard times and is reluctant, possibly through pride, to ask for help. He should make a call to do this as soon as possible. Unions, employers and economic experts need to be brought together to give Ireland the best, most united, way through the barbed thicket that our economy is caught up in.

The folk of Blackrock are going about their business as I sit and write. Well heeled ladies and men in posh suits are buzzing around, untouched by poverty. Will this atmosphere change if the economy worsens? In this part of Dublin property prices and belt tightening are more important to the locals than facing the dole like some other, less well off areas of the capital.

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FAS executive, Rody Molloy found himself in hot water, recently, over his improper expenditure. This lead to his resignation, amid the anger of the public. However in the UK there is outrage at the pay of a banker, Sir Fred Goodwin. Goodwin has, according to the media; refused to take a cut in the amount he is paid. At a time of severe financial constraints this man had the brass neck to refuse even a symbolic cut in his remuneration. The anger this has aroused is palpable.

Perhaps Goodwin should be stripped of his knighthood for his greed. One wonders why people like him are given honours with such ease. The BBC’s teletext service are reporting that the ex-Royal Bank of Scotland Chief executive may be faced with legal action if he continues to refuse to hand back a portion of his £16m pension. He may need that money to get the hell out of the UK judging by the rage he has caused.

President Obama has well articulated what needs to be done to turn around the American economy. Other capitalist nations will no doubt follow. Nobody will get through the financial difficulties without ‘feeling pain’. This is the legacy of a lack of regulation. It may take years to repair the wreckage but many will suffer in the meantime. Hopefully the likes of Sir Fred Goodwin will suffer too.
© Ian Callagy 2009