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That's the basic problem.  The financial regulator was incompetent. The Irish central bank virtually redundant.  (I have an acquaintance who used to be a senior official with the bank and who spent his time skulling pints and attending conferences.  There was never any pretence at real work)  The quality of senior Irish civil servants is lamentable - they are almost more into "relationship building" rather than hard analysis and decision making than the "populist" politicians themselves...

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by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Fri Dec 3rd, 2010 at 06:16:20 AM EST
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