Madam, – I have reflected on two of your Front page news stories (May 29th). You outline in the first story: “The Government has become the majority owner in the EBS after injecting €100 million into the building society and committing itself to providing a further €775 million after the 75-year-old institution failed to secure private investment”. In other words the Government is bailing out another failed Irish financial institution, namely the EBS.
To paraphrase your second story, Cathal Magee was appointed as new HSE chief executive.The HSE confirmed he will be paid a salary of €322,000, almost €100,000 more than the Government had initially planned. “Mr Magee has been a non-executive director of the EBS since 2002, has chaired the building society’s risk committee and has also served on its credit committee. He has been praised by executive management at the society as a ‘a very strong performer’ on the board”.
Is it me, or am I missing something here? – Yours,