Thursday, June 27, 2013

Banking Scandal hits Ireland

The global banking crisis of 2008, caused by the reckless behavior of American lenders, spread shockwaves around the world that are still being felt today.

Banking giants such as Lehmann brothers & Bear Stearns collapsed and other banks scrambled to secure 'bailouts' from their governments to avoid going the same way.

In Ireland, the downturn in the property market caused the Anglo Irish Bank to approach government regulators and the Central Bank.