Loz Wrote: ------------------------------------------------------- > through the greed of a few > > Sorry, I don't buy that. Yes, some people got > more money than others, but the greed was > widespread across Ireland and the UK. Like the UK, > everyone that could jumped onto the gravy train > (or, in Ireland, upon the Celtic tiger's back). > I'm sure that house prices were talked about at > dinner parties across Dublin. > > Whilst banks have to take a good proportion of the > blame, the little guy/girl on the street was happy > to play along while the money was coming in and > credit readily available. > I'm afraid its not the case Loz - the small scale borrowings of the general public are not sufficient to bring down an economy unless you get significant defaulters. The Irish had its property oligarchs, a relatively small group of big hitters who did not know when to stop and were never asked to, Quinlan and the like owning London prime real estate. Its little to do with the little guy in the street. The property loans are going bad and the assets are now in public hands. The individuals responsible are largly bankrupt and the government hold empty buildings which noone ever needed.