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Ex-Anglo boss jailed for 6 years over €7.2bn fraud
A former chief executive of Anglo Irish Bank, David Drumm, is jailed for 6 years for his role in a $7.2 billion banking fraud. The deals involved were part of the period when Ireland experienced a severe banking crisis in 2008 as a result of overleveraging of banks and faulty transactions leading to Ireland's lost decade. The conviction comes 10 years after the crisis.
The government of Ireland at the time made the controversial decision of guaranteeing all the debt of banks including Anglo Irish bank for runaway debt, coming under much criticism.
Anglo Irish Bank
08/31/2010
The Irish Bank Resolution Company (formerly Anglo Irish Bank)
Grouped Articles
Support of Anglo Irish Bank Strains Ireland
New York Times 08/31/2010
Wall Street Journal 12/21/2010
Anglo Irish Sells U.S. Loans to Two Banks and Lone Star
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Ex-Anglo Irish Executives Charged
Wall Street Journal 07/23/2012
Irish Search for Billionaireâs Assets Leads to Russia
New York Times 04/03/2013
Ex-Anglo boss jailed for 6 years over €7.2bn fraud
The Times 06/21/2018
Krugman and other experts on the decision of the government of Ireland to guarantee all the debt of its runaway banks.
08/31/2010
This decision has burdened the Irish people with the debt that banks incurred in a burst of speculative frenzy in real estate. This was possible as bankers were working together with politicians and developers. German and British banks made poor lending decisions and loaned money freely to Irish banks. Banks should share in these losses but the decision of the Irish government has put the burden on the people of Ireland, with a third year of severe austerity cuts in the face of a 14% unemployment rate. The investigation into Anglo Irish Bank.
Grouped Articles
In Ireland, Hope of Retroactive Relief
Wall Street Journal 06/29/2012
Support of Anglo Irish Bank Strains Ireland
New York Times 08/31/2010
New York Times 11/25/2010
The Road to Economic Crisis Is Paved With Euros
New York Times 01/12/2011
Europe Needs to Apportion Pain
Wall Street Journal 03/17/2011
Tests Show Irish Banks Still Ailing
New York Times 03/30/2011
Ireland's Irish Bank Resolution Company (formerly Anglo Irish Bank) and efforts to recover assets in Russia
08/31/2010
Grouped Articles
Support of Anglo Irish Bank Strains Ireland
New York Times 08/31/2010
Irish Search for Billionaireâs Assets Leads to Russia
New York Times 04/03/2013
Allied Irish Banks Could Be Valued at $14.9 Billion in I.P.O.
The New York Times 06/12/2017
Ex-Anglo boss jailed for 6 years over €7.2bn fraud
The Times 06/21/2018
Years of glory and hubris crash to an end in total silence
06/21/2018
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