When Irish Eyes Are Crying

When Irish Eyes Are Crying

By Donal on Wed, 03/02/2011 - 8:38am |

When I flew to Dublin in early November, the Irish government was busy helping the Irish people come to terms with their loss. It had been two years since a handful of Irish politicians and bankers decided to guarantee all the debts of the country’s biggest banks, but the people were only now getting their minds around what that meant for them. The numbers were breathtaking. A single bank, Anglo Irish, which, two years before, the Irish government had claimed was merely suffering from a “liquidity problem,” faced losses of up to 34 billion euros. To get some sense of how “34 billion euros” sounds to Irish ears, an American thinking in dollars needs to multiply it by roughly one hundred: $3.4 trillion. And that was for a single bank. As the sum total of loans made by Anglo Irish, most of it to Irish property developers, was only 72 billion euros, the bank had lost nearly half of every dollar it invested.

URL:

http://www.vanityfair.com/business/features/2011/03/michael-lewis-ireland-201103?currentPage=all

Add new comment
585 reads

Comments

Byline: Michael Lewis! And as always, he doesn't disappoint--it's a really great piece. Thanks.

by artappraiser on Wed, 03/02/2011 - 6:25pm

And give credit to the Irish, perhaps the only nation in the world who could make their own economic catastrophe sound charming, almost fun. A great read.

by acanuck on Wed, 03/02/2011 - 10:41pm

In the News

Russia plays weak hand in Palestine
Russia plays weak hand in Palestine

submitted by PeraclesPlease 1 year ago

The intra-Palestinian meeting in Moscow has precedent

Russia's hosted such meetings in the past, most recently Feb 2019

Russia has long lamented the US' "monopolization" of the peace process & tried to carve out a niche for itself: mediating among the disunited Palestinians/2
— Hanna Notte (@HannaNotte) February 29, 2024

Read the article at https://twitter.com/HannaNotte/status/1763116222256701787

Add new comment
Mother Jones is Reaching out to Alternative Party Voters
Mother Jones is Reaching out to Alternative Party Voters

submitted by HSG 1 year ago

Here's what I told them: https://halginsberg.com/vote-for-jill-stein-again/

Read the article at https://halginsberg.com/vote-for-jill-stein-again/

2 comments

Add new comment
Controversial Brazil law curbing Indigenous rights comes...
Controversial Brazil law curbing Indigenous rights comes into force

submitted by artappraiser 1 year ago

Controversial Brazil law curbing Indigenous rights comes into force https://t.co/pCoDg05irX
— Gareth Harris (@garethharr) December 28, 2023

Read the article at https://www.theguardian.com/world/2023/dec/28/brazil-law-indigenous-land-rights-claim-time-marker?CMP=share_btn_tw

1 comment

Add new comment
Security Alert: U.S. Embassy Port-au-Prince, Haiti (...
Security Alert: U.S. Embassy Port-au-Prince, Haiti (December 25, 2023)

submitted by artappraiser 1 year ago

Location: U.S. Embassy and residential compounds

Events: Heavy gunfire is occuring around the area of the U.S. Embassy and residential compounds adjacent to the Trutier area of Tabarre. All Embassy personnel have been instructed to remain indoors and shelter-in-place until further notice. All others should avoid the area.

Actions to take:

Avoid the area;

Avoid demonstrations and any large gatherings of people;

Do not attempt to drive through roadblocks; and

If you encounter a roadblock, turn around and get to a safe area.

Read the article at https://ht.usembassy.gov/security-alert-u-s-embassy-port-au-prince-haiti-december-25-2023/

3 comments

Add new comment
Pakistan Is Creating the World’s Next Refugee Crisis
Pakistan Is Creating the World’s Next Refugee Crisis

submitted by artappraiser 1 year ago

By The Editorial Board @ Bloomberg.com, December 8, 2023

A mass expulsion of Afghan migrants could destabilize the region and fuel radicalization. The West should pressure Islamabad to change course.

Read the article at https://www.bloomberg.com/opinion/articles/2023-12-08/pakistan-s-expulsion-of-afghan-refugees-risks-another-crisis

6 comments

Add new comment
Internet shut down in Chad
Internet shut down in Chad

submitted by artappraiser 1 year ago

All eyes on #Chad right now
Chad has two internet trunks coming into the country: One from the Red Sea via Sudan; the other from Cameroon. Not possible for the totality of the country's internet network to be shut unless done centrally. A lot of rumors swirling; few facts. https://t.co/N6bDJZ2ixO

Read the article at https://x.com/_hudsonc/status/1732891968709992511?s=20

2 comments

Add new comment
[Economy] where Joe's success falls short
[Economy] where Joe's success falls short

submitted by PeraclesPlease 1 year ago

Read the article at

3 comments

Add new comment
[CRIME News] 3 loss-prevention employees in Macy’s across...
[CRIME News] 3 loss-prevention employees in Macy’s across the street from Philadelphia City Hall stabbed

submitted by artappraiser 1 year ago

BREAKING: Three loss prevention employees in Macy’s across the street from Philadelphia City Hall stabbed, one of them has died from stab wounds, @PhillyPolice sources tell me. Police converged on the store as the three workers were rushed to Jefferson Hospital. pic.twitter.com/4U1eKycL4W

Read the article at https://x.com/KeeleyFox29/status/1731713272942940365?s=20

38 comments

Add new comment
Former U.S. Ambassador Arrested, Charged With Working As...
Former U.S. Ambassador Arrested, Charged With Working As Secret Agent For Cuba

submitted by artappraiser 1 year ago

Former US Ambassador Arrested, Charged With Working As Secret Agent For Cuba https://t.co/LDwo4ZJI1K
— HuffPost (@HuffPost) December 4, 2023

Read the article at https://www.huffpost.com/entry/manuel-rocha-ambassador-arrested-cuba_n_656d1e2ae4b028b0f3d07478

Add new comment
[War in Israel, Chapter II] UNRWA under scrutiny
[War in Israel, Chapter II] UNRWA under scrutiny

submitted by artappraiser 1 year ago

[Chapter I news is HERE, Oct. 7 til today]

You don’t get it.
It’s not about an UNRWA teacher who held an Israeli kid hostage in his house.
It’s all about how for 75 years you have destroyed the future of generations of Palestinians, including my family.
My cousins in Arab countries are still not citizens - not even the… https://t.co/nv6anubGhc
— George Deek (@GeorgeDeek) December 2, 2023

Note 'Community Notes' attached to UNWRA's statement.

Read the article at https://x.com/GeorgeDeek/status/1731020551328579863?s=20

58 comments

Add new comment
Maduro, Under Pressure, Holds Vote to Annex Territory From...
Maduro, Under Pressure, Holds Vote to Annex Territory From a Neighbor

submitted by artappraiser 1 year ago

Imperialism for me but not for thee?

It's wild that Venezuela is now holding a vote on whether 2/3 of Guyana actually belongs to them! Analysts suggest that Modoru may want military action to pump up his sinking popularity.

Could we have a war in South America?!?

"The people who live in Essequibo are largely… pic.twitter.com/QvMEjkkgwy

Read the article at https://www.nytimes.com/2023/12/03/world/americas/maduro-vote-essequibo-guyana.html

6 comments

Add new comment
[Where is the GOP headed?] Divisions leave Florida’s House...
[Where is the GOP headed?] Divisions leave Florida’s House Republicans powerless

submitted by artappraiser 1 year ago

The lack of a cohesive delegation has allowed attention-seeking lawmakers to act on their own.

McCarthy: “You have [Rep. Matt] Gaetz, who belongs in jail…”

Gaetz: “Tough words from a guy who sucker punches people in the back. The only assault I committed was against Kevin’s fragile ego.”https://t.co/LctPuz6Pcf

Read the article at https://www.politico.com/news/2023/11/29/divisions-leave-floridas-house-republicans-powerless-00129200

10 comments

Add new comment
‘She got so mad at me’: book on the ‘Squad’ details AOC-...
‘She got so mad at me’: book on the ‘Squad’ details AOC-Pelosi clashes

submitted by artappraiser 1 year ago

By Martinn Pengelly in Washington DC for TheGuardian.com, Nov. 30

Alexandria Ocasio-Cortez tells Ryan Grim life in Congress ‘completely transformed’ after Democratic leader stepped down

Read the article at https://www.theguardian.com/books/2023/nov/30/squad-book-aoc-nancy-pelosi?CMP=share_btn_tw

15 comments

Add new comment
US health insurers Humana, Cigna in talks to merge -source
US health insurers Humana, Cigna in talks to merge -source

submitted by artappraiser 1 year ago

@ Reuters, Nov. 29

Read the article at https://www.reuters.com/markets/deals/us-health-insurers-humana-cigna-talks-merge-wsj-2023-11-29/

3 comments

Add new comment
Central Africa’s dinosaur regimes and the art of coup-...
Central Africa’s dinosaur regimes and the art of coup-proofing

submitted by artappraiser 1 year ago

"Both the AU and the intl community place more weight on whether elections are held than whether they are free and fair. Sanctions/expulsions occur when there is a coup but not necessarily when elections are rigged or if an “institutional coup” occurs." https://t.co/m9dNimJP0D
— Cameron Hudson (@_hudsonc) November 28, 2023

Read the article at https://africanarguments.org/2023/11/central-africas-dinosaur-regimes-and-the-art-of-coup-proofing/

Add new comment

From the Readers

Creative corner

From the Dagbloggers

Hits of the Day