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The largest Bank, AIB, is currently still 99% state owned, and so, in theory, state controlled.  The Central Bank and the Financial regulator, previously asleep on the job, have been significantly revamped. The worst offenders - Anglo-Irish Bank and Irish Nationwide Building Society - have been shut down. Irish Nationwide's chief executive, Michael Fingleton is still being investigated by the Central Bank. David Drumm, former Anglo-Irish CEO has just been extradited from the USA to face trial here. Larger banks will in future be overseen by the ECB.  So some progress. I cannot comment on the adequacy of current prudential legislation as this is not a field I know a lot about.

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by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Thu May 26th, 2016 at 06:09:22 PM EST
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