ANGLO Angst

A file is expected to be sent to the Director of Public Prosecutions tomorrow following the investigation into Anglo Irish Bank by the Gardai and the Corporate Enforcement office, read more here. It's two and a half years since the first signs that the bank was on the verge of collapse. By contrast Bernie Madoff was sentenced to life in jail less than five months after he first admitted that his investment business was just a scam. The investigation into Anglo Irish was held up by a legal challenge over access to seized files and then by failures to hand over passwords for encrypted files. New legislation on white collar crime recognises the failings in the current system and will make it a crime not to co-operate. On the other hand the DPP came out today to say his office was understaffed and over-stretched, read here. Even after all the angst over ECB and IMF bailouts there is still a lack of political will to tackle corruption.