The USA could take some lessons on this.

Ireland's problem is that they swallowed the 'trickle down' kool aid.

No regulation means a boom / bust economy. This is pretty much hell for 90% of the population and a recipe for failure for a country. A few rich assholes really make out though.

I support this idea. Let's implement it globally.

Now if only we would get the balls to do this in the US.

Worked out in Iceland... and now Ireland's doing it. Fecking awesome!

A free market should have risks as well as rewards.

Fark_Guy_Rob: sdd2000: The USA could take some lessons on this.

Jesus Christ - No!

The absolute last thing the US should do is to start taking cues from Ireland...

The Irish and American financial systems are in ruins for pretty much the same reason. A citizen base that basically pays it's taxes and works, and an unregulated banking system that leveraged itself way beyond what the nation could back when their bets went wrong. The only substantial difference is that the US GDP is 75 times the size of Ireland's, and can better adsorb the hit.

Arresting these cocksuckers and throwing them in the poke is *exactly* the example we should be following. Instead, we put them on the Federal Reserve board.

You can all start counting because this is just the beginning.

Remember that these people in real power trump the supposed powers of whole nations. In fact, the largest nations are merely extensions of their 'company'.

Research 'The Keenan and Scott Lawsuit.' Learn about the creation of the Bank of International Settlements and the Federal Reserve. Pay attention to the gold that was 'borrowed' from many asian countries during the 1930s. Also, note the bonds for billions of dollars that were given in exchange.

pjbreeze: Yes, the USA could take some lessons from Ireland and from China. Because I think capital punishment is warranted in certain cases, Madoff, Stanford, WorldCom, Countrywide and Enron come to mind.

I think we should bring back public humiliation punishments. How about 10 years in the stockades where every pleb you've bilked for the last umpteen years gets to pelt you with rotten vegetables and dogshiat? Oh, and every single penny of assets you have gets confiscated and used for public education.

I'm ok with this. Let's start doing that here. In fact, I'd be happy if we could shift all the people working in the DEA over to the SEC, FDIC, OCC, and all the other regulatory agencies for the financial industry.

I hope this catches on. Well done Ireland

JackieRabbit: This wouldn't work here. The bankers would just buy the courts and then short them.

This is the problem with trying to police the rich and powerful. On the one hand they are above the law; On the other hand the only way to hold them accountable is a popular uprising. The law is in their pockets.

He covered up the bank's whopping debts and tried to plug it up with illegal loans from people he had given illegal loans to in the past. When that failed he got a bailout from our government while STILL covering just how massive the losses were, because he couldn't let auditors look at their actual accounts without having them notice all the shady deals. Then the bank fell, setting off a crisis and losing us a big chunk of tax money. That's a pretty huge deal, especially in a welfare state like ours.

Anglo is our Enron. It's the poster child for corporate greed and shiatty economics screwing the people. If you want a look at just how angry some are, Google "cementgate"

Having just read the piece - not as cool as lead to believe.

Too bad that could never happen in America