Thursday, July 16, 2009

inquiry must be done with transparency

So the Tynwald is presently discussing having a Tynwald Select Committee to inquire into the collapse of the Kaupthing IoM bank.

'Transparency' is one of the keywords that the government uses as a hallmark of the way banking business is conducted on the IoM. Independent objective assesment would suggest that it is at best opaque and at worst still 'smoke & mirrors' with a lot of business done in secret hanky-panky.

The idea of a Tynwald Select Committee being the appropriate body to conduct such an important investigation as the collapse of one of its pillar banks is a nonsense. The thought that it might be conducted in private with its findings kept secret reeks of known guilt that needs to be covered up in order to protect the guilty parties & the tarnished reputation of the IoM.

To be transparent this Kaupthing inquiry should be conducted by an independent body, should be in public, should be open to evidence being given by victims of the collapse, and the findings should be made public. Anything proposals for an inquiry that falls short of these terms would be an outrage.

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