But Ireland has one huge problem that may soon make it a supplicant to its European brethren: A failed banking sector that Ireland’s government can no longer rescue on its own. Ireland is in the midst of a real estate bust that could trump even the ruinous downturns that turned parts of southern California and Nevada into suburban ghost towns, with home-grown banks stoking it all. Now, those banks are trying to manage catastrophic losses. The Irish government has effectively nationalized the nation’s biggest banks by guaranteeing their debt, which would be akin to the U.S. government taking over Citigroup, Bank of America, J.P. Morgan Chase and Wells Fargo.
yep, they can’t borrow from their FED. didn’t we already ‘take over/tarp over’ our big banks? So far it’s preventing disaster in the US but what happens down the road?
yep, they can’t borrow from their FED. didn’t we already ‘take over/tarp over’ our big banks? So far it’s preventing disaster in the US but what happens down the road?
yep, they can’t borrow from their FED. didn’t we already ‘take over/tarp over’ our big banks? So far it’s preventing disaster in the US but what happens down the road?
yep, they can’t borrow from their FED. didn’t we already ‘take over/tarp over’ our big banks? So far it’s preventing disaster in the US but what happens down the road?
