« BackSocialist TD Joe Higgins says crash was caused by profiteering

The financial regulator, European Central Bank, politicians and the banks themselves are all to blame for Ireland’s banking and financial crisis.

The final report of the banking inquiry’s been published this afternoon, saying that a key failure was politicians accepting there would be a soft-landing in the property market.

The financial regulator is the subject of damning findings – that it didn’t use the powers available to it to keep a check on the banks.

And the European Central Bank is accused of using an “explicit threat” to cut emergency funding to Ireland if bondholders were burned.

However, Socialist TD Joe Higgins a member of the inquiry team – who has published his own separate findings – says the crash was caused by profiteering.

Socialist Deputy Joe Higgins

The West Kerry native explains why he didn’t sign off the official report: