Tuesday 23 January 2018

Thomas Molloy: What would happen if it was simply shut down?

Thomas Molloy

Thomas Molloy

WHAT would happen if the Government took the advice of the man on the street to simply close down Anglo Irish Bank and walk away from the wreckage?

The simple answer is that nobody really knows. The Government has never published the advice it received and winding down any bank quickly can have unforeseen consequences.

The most dramatic example was the Bush administration's decision to allow Lehman Brothers to fail. Nobody foresaw that their decision would create a financial tsunami.

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