Law regarding politician's shareholdings

pog it

Given the insider access that politicians in Government have to privileged and timely information regarding banks, etc. one would imagine that now and again politicians take advantage of this insider knowledge to make financial investments.

So what's the story with this? How do we know if for example Brian Lenihan, Cowen, etc. had bought shares in Bank of Ireland?
Or could they buy them through a different company with no trace to themselves?

Just wondering if anything in the FOI Act enables citizens to find out this information.

Biggins

pog it wrote: »

...Just wondering if anything in the FOI Act enables citizens to find out this information.

Short answer for the general public is "No" sadly.

This would have to partly relate to public disclosures that they've made.
The law in regards to TDs and their business interests and what links they might have while acting in the elected role they represent for the state and the common people, needs to be addressed and subsequent laws updated.

pog it

Okay. So FF will not put forward any motions to change these laws- maybe the Greens would if we were to persist in asking them to address this issue.

It's a very serious issue and I don't think for a second that none of these politicians have taken advantage of what they know.

Is there any example you can think of in Ireland or UK where questions were publicly asked of politicians in this area?

Robbo

Biggins wrote: »

Short answer for the general public is "No" sadly.

This would have to partly relate to public disclosures that they've made.
The law in regards to TDs and their business interests and what links they might have while acting in the elected role they represent for the state and the common people, needs to be addressed and subsequent laws updated.

Register of Members Interests, 2008.

Biggins

pog it wrote: »

Okay. So FF will not put forward any motions to change these laws - maybe the Greens would if we were to persist in asking them to address this issue.

It's a very serious issue and I don't think for a second that none of these politicians have taken advantage of what they know.

Is there any example you can think of in Ireland or UK where questions were publicly asked of politicians in this area?

If you mean were they asked in the houses of Parliament or the Dail, not to my knowledge but I haven't check and I could be wrong.
Questions have been raised before as to their business interests.

Will the Greens do anything? Not very likely at all.
Lets be honest, they are hanging on by a thread.
What they get out of the present talks with FF over their new formula for government is just enough they hope to get some of them re-elected with a bit of further pr spin.
They are not going to ruin any further chances and/or rock the boat with FF by asking for something that will directly effect their members, to be looked into - and there in lies the truth of the matter to some!

I can direct you to this link however:

http://www.soldiersofdestiny.org/tddrinklobbyscandal.htm

Did you know?
(1) 40% of Fianna Fail T.D.s are publicans.

Robbo

pog it wrote: »

Is there any example you can think of in Ireland or UK where questions were publicly asked of politicians in this area?

Off the top of my head, two examples spring to mind. Frank Fahey's curious investments in Moscow hairdressing salons and Ciaran Cuffe's shareholdings in companies with less than green agendas.

pog it

Ronan O'Snodaigh at least addresses the issue:
http://www.breakingnews.ie/ireland/politicians-with-bank-shares-should-not-debate-nama-osnodaigh-426067.html

pog it

Yes it is scary the property empires mini and massive that these politicians built up. People get potholes filled, eh

But it would be the banks situation where there would have been fortunes to have been made by them.

If only we knew!