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Sat Jul 30, 2016, 02:43 PM

Ireland jails three top bankers over 2008 banking meltdown

Three senior Irish bankers were jailed on Friday for up to three-and-a-half years for conspiring to defraud investors in the most prominent prosecution arising from the 2008 banking crisis that crippled the country's economy.

The trio will be among the first senior bankers globally to be jailed for their role in the collapse of a bank during the crisis.

The lack of convictions until now has angered Irish taxpayers, who had to stump up 64 billion euros - almost 40 percent of annual economic output - after a property collapse forced the biggest state bank rescue in the euro zone.

The crash thrust Ireland into a three-year sovereign bailout in 2010 and the finance ministry said last month that it could take another 15 years to recover the funds pumped into the banks still operating.

more
http://www.reuters.com/article/us-ireland-banking-court-idUSKCN10912E

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Reply Ireland jails three top bankers over 2008 banking meltdown (Original post)
n2doc Jul 2016 OP
lsewpershad Jul 2016 #1

Response to n2doc (Original post)

Sat Jul 30, 2016, 02:55 PM

1. America needs to learn

BUT that maybe impossible because America is so exceptional ...no need to learn from anyone else.

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