DOHERTY SLAMS ‘SCANDALOUS’ DECISION OF GOVERNMENT NOT TO REDUCE MASSIVE PENSIONS FOR BANKERS

first_imgDONEGAL Sinn Féin TD Pearse Doherty has said that slammed the Coalition government over its “scandalous failure” to reduce massive pensions for ex-bankers.The Donegal South West TD’s comments were in response to claims by Minister for Finance Michael Noonan that he was powerless to act on the issue.Deputy Doherty said today: “Last week we heard yet again that senior bankers who were instrumental in the financial crash of 2008 are still receiving massive pensions. “Former AIB CEO Eugene Sheehy receives an annual pension of €500,000. His successor, Colm Doherty, now also retired will receive €300,000 a year when he turns 65.“Given the damage that these individuals caused not only to the banking sector but to the economy, people are right to be incensed that tax-payers’ money is being used to give these people grotesque pension payments.”Mr Doherty went on: “Unfortunately we have heard all of this before. When Fianna Fáil were in government the then Taoiseach Brian Cowen and Finance Minister Brian Lenihan signed off on a €1.5million pension top up to AIB CEO Richie Boucher despite the role he played in the collapse of the bank. While Richie Boucher waived this payment under political pressure the fact that the government was willing to sign off on it should not be forgotten.“While people came to expect this kind of behaviour from Fianna Fáil people are angry that Fine Gael and Labour, now in government are doing the very same thing. They are claiming that they are powerless to act. “However this is not the case. After sustained public and political pressure the late Brian Lenihan introduced an excessive banker’s levy in 2010. This meant that while the government couldn’t stop the payment of the bonuses they could claw back 90% of the money.“Enda Kenny and Michael Noonan know that the same approach could be used to the grotesque pensions of ex-bankers, and indeed for former Government Ministers as well. This could apply to pensions for bankers and indeed former government ministers.“The fact that Finance Minister Michael Noonan falsely claims that he is powerless to do anything about these massive pay-outs is generating substantial public anger.“The Minister for Finance has the power to reduce these payments. The government can and must reduce the massive pensions for former bankers. They could introduce the necessary legislation in December’s budget to apply levies on these payments in order to recoup the people’s money.“Once again Fine Gael and Labour are refusing to do in office what they called for when in opposition.” DOHERTY SLAMS ‘SCANDALOUS’ DECISION OF GOVERNMENT NOT TO REDUCE MASSIVE PENSIONS FOR BANKERS was last modified: November 6th, 2012 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:DOHERTY SLAMS ‘SCANDALOUS’ DECISION OF GOVERNMENT NOT TO REDUCE MASSIVE PENSIONS FOR BANKERSlast_img read more

Lent takes holiday on St. Patrick’s

first_img “For the most part, I think people understand it’s really why we are who we are as a Catholic family and that’s to observe some of the traditions of the church,” Wharton said.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MORE‘Mame,’ ‘Hello, Dolly!’ composer Jerry Herman dies at 88 The connection between Ireland and corned beef dates to colonial times in Boston, when meat was imported from Ireland and then preserved in salt, said Kevin O’Neill, history professor in the Irish Studies program at Boston College. The result – corned beef – was associated with Ireland. While eating meat on a Friday in Lent isn’t considered a mortal sin – the gravest category – it does take a dispensation for the church to lift the rule. At least 67 of the country’s nearly 200 dioceses provide such dispensations, said Rocco Palmo, a Catholic commentator who has been keeping an informal count on his blog “Whispers in the Loggia.” Each local bishop has the authority to allow Catholics in his diocese to forgo the traditional abstention of meat on Fridays or other rules of Lent, said Bill Ryan, spokesman for the U.S. Conference of Catholic Bishops. Typically, bishops will determine if there’s a need, he said, such as having a large Irish population. Bishop R. Walker Nickless of Sioux City, Iowa, has opted to not grant a dispensation to the 100,000 Catholics in his diocese. Many parishes moved their St. Patrick’s Day celebrations to either Thursday or Saturday, said Jim Wharton, spokesman for the Sioux City Diocese. That allows them to go ahead with their Lenten fish fry events – a Friday staple that typically yields money for school or parish projects, he said. Not one Catholic in the diocese has called him wondering why dispensation wasn’t granted, he said. Roman Catholics in Los Angeles and other major U.S. cities won’t have to choose between sinning and nibbling if they want to enjoy a plate of corned beef-and-cabbage this St. Patrick’s Day. Cardinal Roger Mahony and church officials in other American cities have granted a special one-day dispensation to break the rules of the holy season of Lent, which prohibit Catholics from eating meat on Fridays to observe the sacrifice of Jesus Christ. “Since St. Patrick is the co-patron of the archdiocese, he is dispensing from the Lenten Friday abstinence of meat on St. Patrick’s Day,” according to a statement from Mahony’s office. “It is suggested that Catholics who make use of this dispensation select another day during the Lenten journey to abstain or select another Lenten practice to compensate for making use of this dispensation.” The last time St. Patrick’s Day fell on a Friday during Lent was 2000 and many bishops then offered the same deal. The Archdiocese of New York has always extended a dispensation when the calendar lined up because St. Patrick is the patron saint of the archdiocese, spokesman Joseph Zwilling said. last_img read more