That's the bit you excluded from your quote.  Anglo Irish Bank is no more, and some of its former executives are in Jail where they belong albeit serving altogether too short sentences.

The cause and handling of the Irish banks crisis was a mixture of outright fraud, almost completely incompetent regulatory oversight, inappropriate interest rates and credit availability, and ECB extortion. It remains to be seen whether the ECB has really learned it's lesson, but you can't have a Single Market in financial services with 28 different regulatory regimes, and at least some progress has been made in improving banking oversight at an EU level.

Index of Frank's Diaries