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John Fallon reported in the Irish Times today that David Duffy, the CEO of Allied Irish Banks, intends a clean-up within the bank.* However, what is reported is that David Duffy has joined Fianna Fáil and Sinn Fein in asking citizens yet again to go WAWA (“We are where we are”). Yes, here we go again. What he proposes is that past wrongdoing be attributed to “culture” and that the bank makes a fresh start without getting rid of wrongdoers.

The wrongdoing in question is managers borrowing from their own bank to become developers or investors. David Duffy is clearly of the view that this is not just a bad practice but unethical and lacking in integrity. He is resolute that it will never happen again and that if it does, the manager will be dismissed.

The problem of course is that it can’t be wrong today but not wrong yesterday. That’s where the old reliable WAWA escape clause comes in and it’s all too familiar: “No one is guilty; it was the culture”. It’s a constant refrain in Ireland today. It is offered as an excuse for all sorts of failure and for crimes: failure to speak up while the economy was ruined, child abuse, political murders, laundry slavery and now dodgy borrowing by bank managers has been added to the list.

It is simply not credible that the chancers who were involved in these loans will now suddenly become people of integrity fit to be managers in an important institution. It is not acceptable that the CEO of this institution is prepared to go WAWA and to leave those not fit for office in place.
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* http://m.irishtimes.com/newspaper/finance/2013/0223/1224330416276.html?via=bnews

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