link here to article
The failure of the banking system in Ireland, as a consequence of the mistakes made in its banking system, is a sad story that must be told. Nobody tells the story better than Michael Lewis. This article is not only informative about the Irish economy but it is told in a way that is easy to understand. Moreover, it helps us to understand the personalities behind the collapse and it develops sympathy for the struggles that the Irish face going forward. (Thanks to Manan Shukla for the link).
Norm:
ReplyDeleteI think one very interesting piece in Lewis' article is the lack of rage that the Irish people had toward the banks. It's almost as if they didn't care that all of this crisis befell on them. It is similar to the movie Inside Job and the rage and anger the movie tries to provoke. Just today, this piece talks about the UK and how little protest/rage was seen: http://www.telegraph.co.uk/finance/economics/8355475/Anger-at-the-banks-is-justified-Mervyn-King-says.html
The real question in my opinion is what creates the huge disconnect in the masses directly feeling that the pain was a result of the banks. People in the middle east are angry and they protest because they directly feel the hunger, the frustration, the injustices of the inequality. Why don't we see more of that in the States towards the banks?
-Manan