Michael Lewis chronicles the Irish debt crisis

Long-ish read, but riveting, as usual.

When Irish Eyes Are Crying

First Iceland. Then Greece. Now Ireland, which headed for bankruptcy with its own mysterious logic. In 2000, suddenly among the richest people in Europe, the Irish decided to buy their country—from one another. After which their banks and government really screwed them. So where’s the rage?
BY MICHAEL LEWIS•PHOTOGRAPH BY JONAS FREDWALL KARLSSONMARCH 2011
CRASH COURSE
University College Dublin professor Morgan Kelly, in Hogans pub, in Dublin. He predicted the Irish Crash in 2006.

Are you detecting a theme over the last few years?

Here’s a hint: privative the gains, socialize the losses.

#theyarewhowethoughttheywere #greatmomentsinbankinghistory