Saturday 18 November 2017

Decisions made behind Anglo doors will echo for decades

Dan O'Brien

Dan O'Brien

If Anglo Irish Bank had never existed, would the property bubble have been much smaller, or would it even have inflated at all; and how much less painful would the subsequent crash have been?

The sentencing hearing yesterday of two senior members of that bank provides a good moment to step back and assess the role of Anglo Irish Bank in one of the biggest boom-busts ever to have taken place anywhere in the world.

Consider first Anglo's contribution to inflating the bubble.

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