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Anglo Irish Bank and Indigestion — 2 Comments

  1. These men certainly breached the law as set out in the Republic of Ireland Companies Act 1963 as modelled on the U.K. of G.B. and N. Ireland Act of 1948. However they consulted with the regulatory authority in the Irish Rep. (Republic of Ireland Central Bank) and got clearance that in the fraught circumstances extant, that what they contemplated was to protect the Republic of Ireland banking system and the regulator gave the green light. They gained nothing personally for trying to keep the edifice up .The problem stemmed from the mad cap joining by the Irish Republic of the Euro currency and the dramatic reduction in interest rates as a consequence . There are no circumstances in natural justice why these men should be committed to prison. They simply do not constitute a threat to society.

  2. Whether or not any person involved in the banking crisis ever goes to prison, the system remains unchanged.

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