Meet Kevin.
Back in 2008 he was the number two at the department of finance and heavily involved in pushing through the bank bailout.
According to US embassy cables (from WikiLeaks and published in today’s Guardian), Big Kev told diplomats that the bailout was put in place before a “herd mentality” (about whether the banks were running out of cash) led to a run on those fine institutions.
Even though, he averred, the banks were in good shape.
He said his auditors had viewed the loan books of two of the banks and left with a “favourable impression”.
The Americans knew this for the bullshit that it was. But, being diplomats, instead of ‘This is Bullshit’ they wrote:
The rest, of course, is ghastly history and present.
So what Happened The Kevinator?
He wasn’t fired on the spot, this being the public sector, but, after such a crushing, life-altering blunder he decided to take early retirement and spend more time with his food.
KIDDING! This year, he was made Number ONE at the Department of Finance…
…and he recently helped bring us the AIB Bonus debacle.
That’s literally how the dude and Ireland rolls.
Full text of cable here.
Ireland A ‘Bit Optimistic’ On Banks Before Bailout (Guardian)
(Photocall Ireland)