Scannal (the excellent sub-titled part-As Gaelige documentary show on RTE One) was – in an amazingly perfect event of ironic timing – about the Insurance Corporation of Ireland last night.
ICI was a significant subsidiary of AIB which collapsed in 1985. The taxpayer bailed out AIB. It eventually cost us IR£400m, a massive figure at the time.
Find last night’s programme in the archive here.
It was a story of lax regulation and greedy banking policies which led to a massive hit on the taxpayer that threatened to pull down “the sovereign”. It’s one of the major events in AIB’s “colourful history” referred to earlier on this blog.
Now, time for some Shirley Bassey…
“They say the next big thing is here,
That the revolution’s near,
But to me it seems quite clear,
That it’s all just a little bit of history repeating”