Red-neck AIB Mujahadeen jihad designed to humiliate the Government

THE imperial tribal elders’ at AIB failed to fulfil the Government preference to appoint an external candidate to the top job and attempted, through stonewalling,  to bust the salary cap imposed by the Government.  Their smug and conceited attitude was tantamount to economic terrorism and had they prevailed over the Minister for Finance they would have humiliated this nation.

The Chairman of the Remuneration Committee, after being cudgeled into submission,  emerged wearing sandals from from his wigwam today and rattling his worry beads wailed, whinged and moaned in the media about the prospect of their chosen candidate earning reduced remuneration and how the salary prescribed by the Government was an impediment to attracting candidates. 

It is a pity that their chosen candidate didn’t choose to make his brilliance available to the world’s financial markets instead of dealing with an extra €1 billion of bad debts at AIB if he is to be so terribly underpaid and earning less than the plastic bag salesman paid by the State at Dublin Airport.

The gilt-edged genius that led the three Irish banks throughout the property bubby receive €34,807,000 over the five years from 2003 to 2007.

The remuneration of the chief executive of AIB during the property bubble was:

Year	Incumbent	Salary	Total Remuneration
2003	M Buckley	€660,000	€1,445,000
2004	M Buckley	€775,000	€1,399,000
2005 to 30 Jun	M Buckley	€430,000	€1,459,000
2005- fm 12 May	E Sheehy	€520,000	€1,104,000
2006	E Sheehy	€860,000	€2,436,000
2007	E Sheehy	€916,000	€2,105,000
TOTAL		€4,161,00	€10,048,000

 

The remuneration of the chief executive of Bank of Ireland during this period was:

Year	Incumbent	Salary	Total Remuneration
2003	M Soden	€800,000	€1,610,000
2004	M Soden	€900,000	€1,318,000
2005 to 29 May	M Soden	€167,000	€1,594,000
2005 fm 3 Jun	B Goggin	€911,000	€1,115,000
2006	B Goggin	€1,000,000	€2,525,000
2007	B Goggin	€1,100,000	€3,998,000
TOTAL		€4,878,000	€12,160,000

 

To complete the profile of those Irish banks that have gouged €11 billion of taxpayers’ money, a gesture, described in the latest Interim Report of Bank of Ireland as ‘significant’ in its case – the remuneration at Anglo Irish Bank is set out below:

Year	Incumbent	Salary	Total Remuneration
2003	S FitzPatrick	€494,000	€1,885,000
2004	S FitzPatrick	€649,000	€2,346,000
2005	S FitzPatrick	€775,000	€2,721,000
2005 fm 22 Sep	D Drumm	€6,000	€19,000
2006	D Drumm	€663,000	€2,354,000
2007	D Drumm	€956,000	€3,274,000
TOTAL		€3,543,000	€12,599,000