Wednesday, 13 May 2009

Irish Nationwide - Burgess was right

It was heartening to hear Brendan Burgess receiving repeated applause when speaking at the Irish Nationwide AGM yesterday. Brendan had been a long-time critic of many Irish Nationwide policies and of its former Chief Executive, Michael Fingleton. I had attended two previous AGMs where he was heckled for speaking out while Mr. Fingleton was praised for bringing in profits to the society. Now that we all have seen the costs of these profits and the unacceptable risks taken to achieve them, at least the members have accepted that Brendan Burgess and his fellow dissident member, Shane Hogan, were right to criticise the board. It's only a shame that they weren't listened to before the society was brought to the brink of destruction by the actions of their board and former chief.

It's not as publicly known, but Messrs Burgess and Hogan also forced Irish Nationwide to drastically improve their treatment of borrowers in arrears and many Irish Nationwide borrowers may have avoided repossession because of this work, whether they realise it or not.

Related links: -

RTE News

Irish Independent

Irish Times

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