Financial Regulator a menace - FF Whip

SEANAD REPORT:THE FINANCIAL Regulator was a menace, Government Whip Diarmuid Wilson (FF) said.

In response to a statement by Seanad leader Donie Cassidy, that businessman Seán Quinn had been exemplary in the way he had conducted his affairs and business, Shane Ross (Ind) said the regulator did not believe so.

Mr Cassidy said: “We are talking about a different league here, about people who create jobs, not those who try to take them away. We are saying that we support the insurance company.

“We want to have a strong player in the field of competition. We have no wish for the old cartel that was here years ago.”

Joe O’Reilly (FG) said it was important that people support Quinn Insurance by renewing their policies with the company, and that that was seen as an act of patriotism.

“As Seán and Patricia Quinn leave the board of Quinn Direct, one must acknowledge the trauma the family has been through in recent weeks and how difficult it must be for them.”

Mr Ross said that while everyone had sympathy for the Quinn workforce, a martyr should not be made of Seán Quinn in the process.

“We should not necessarily make a hero of the man, because in many ways he has been a menace as regards what has happened in this country.”

Cathaoirleach Pat Moylan said accusations should not be made against a person who was not present to defend himself.

Paul Bradford (FG) said one could ague that the Quinn Group “became a substitute for industrial development efforts in the north-east, from which a lesson must be learned.” Joe O’Toole (Ind) asked if the Greens were being dictated to about Seanad reform.