Open Dissent (22 page)

9.
    Andrew Ross Sorkin (2009),
Too Big to Fail: Inside the Battle to Save Wall Street
, London: Allen Lane.

10.
  See note 8.

11.
  Paulson,
On the Brink
, pp. 439–440.

12.
  
Entities are seen as ‘too big to fail' if they are so essential to a macro-economy that their failure would be disastrous to the economy.

13.
  The eight financial institutions were Bear Stearns, IndyMac, Fannie Mae, Freddie Mac, Lehman Brothers, AIG, Washington Mutual and Wachovia.

14.
  <
http://oxforddictionaries.com
>.

15.
  <
http://en.wikipedia.org/wiki/Cronyism
>.

16.
  Transparency International Ireland (2010), ‘Alternative to Silence: Whistleblower Protection in Ireland', p. 5.

17.
  
Report of the Company Law Review Group 2007
, available at <
http://www.clrg.org
>, p. 87.

18.
  See Deaglán de Bréadún, ‘Support for Whistleblower Protection',
Irish Times
, 18 May 2010.

19.
  <
http://www.fsa.gov.uk/Pages/Library/Communication/Speeches/2003/sp132.shtml
>.

20.
  See <
http://www.bis.org/publ/bcbs168.pdf
>.

21.
  Figures from <
http://www.rte.ie/business
>.

22.
  <
http://www.rte.ie/business
>.

23.
  Joe Mulholland and Finbarr Bradley (2009),
Ireland's Economic Crisis – Time to Act
(Essays from the MacGill Summer School, 2009), Dublin: Carysfort Press.

24.
  Davy ‘Weekly Book'.

25.
  My own observations of the market.

26.
  ‘Opening Statement to the Joint Committee on Finance and the Public Service', available at <
http://www.nama.ie/Publications
>.

27.
  Figure from CIF, internal paper.

28.
  
Ibid
.

29.
  
Ibid
.

30.
  
Ibid
.

31.
  
Ibid
.

32.
  SIC (2010), information from press conference held on 12 April and an internal report.

33.
  From consultation with Peter Thodey.

34.
  Morgan Kelly, ‘The Irish Credit Bubble', p. 7. See also
Figure 1
in the
Appendix
.

35.
  Danske Bank (2008), ‘Lessons from Swedish Bank Crisis Management', 30 September.

36.
  
Ibid
.

37.
  My own estimate.

38.
  <
http://www.insolvencyjournal.ie
>.

39.
  Shareholder's Register.

40.
  Wriston repeated this story at a lunch I was privileged to attend.

41.
  Figures from <
http://en.wikipedia.org/wiki/2008%E2%80%932010_Latvian_financial_crisis
>.

42.
  
Ibid
.

43.
  US Government Accountability Office (GAO) (2010), ‘The Federal Government's Long-Term Fiscal Outlook January 2010 Update' (GAO-10-468SP), available at <
http://www.gao.gov/new.items/d10468sp.pdf
>, p. 1.

44.
  
Ibid
., p. 6.

45.
  Niall Ferguson (2010), ‘A Greek Crisis Is Coming to America',
Financial Times
, 10 February 2010.

46.
  29 April 2010.

47.
  ‘Years of Hardship Ahead',
Athens News
, issue number 13389, available at <
http://www.athensnews.gr/articles
>.

48.
  
Morgan Stanley International Research.

49.
  
Ibid
.

50.
  <
http://www.insolvencyjournal.ie
>.

51.
  This was according to our guides in Russia.

52.
  
Ibid
.

53.
  
Declaration of the Rights of Man and of the Citizen
, 1789, Article 4.

54.
  
Ibid
., Article 3.

55.
  <
http://en.wikipedia.org
>.

Avery, Gayle C. (2006),
Leadership for Sustainable Futures: Achieving Success in a Competitive World
, Cheltenham: Edward Elgar Publishing Ltd.

Barsch, Elga, Ineke, Jackie and Sheets, Andrew (2010), European Credit Strategy Monthly Call/Contagion Call Slides, Morgan Stanley International Research, 5 May, available at .

Bradley, Finbarr and Kennelly, James J. (2008),
Capitalising on Culture, Competing on Difference: Innovation, Learning and a Sense of Place in a Globalising Ireland
, Dublin: Blackhall Publishing.

Danske Bank (2008), ‘Lessons from Swedish Bank Crisis Management', 30 September.

Flannery, Michael J. (2009), ‘Iceland's Failed Banks: A Post-Mortem', report prepared for the Icelandic Special Investigation Commission, November.

Heikensten, Lars (1998), ‘Financial Crisis – Experiences from Sweden', seminar arranged by the Swedish Embassy, Seoul, Korea, 15 July 1998.

Kelly, Morgan (2009), ‘The Irish Credit Bubble', University College Dublin (UCD) Centre for Economic Research Working Paper Series, UCD School of Economics.

Kroner, Niels (2009),
A Blueprint for Better Banking: Svenska Handelsbanken and a Proven Model for Post-Crash Banking
, Petersfield: Harriman House Publishing.

Lyons, Tom (2010), ‘Financial Mandarins Don't Know Their Onions',
Sunday Times (Business)
, 5 May, p. 2.

Mulholland, Joe and Bradley, Finbarr (2009),
Ireland's Economic Crisis – Time to Act
(Essays from the MacGill Summer School, 2009), Dublin: Carysfort Press.

Paulson, Hank (2010),
On the Brink: Inside the Race to Stop the Collapse of the Global Financial System
, London: Headline Publishing Group.

Sorkin, Andrew Ross (2009),
Too Big to Fail: Inside the Battle to Save Wall Street
, London: Allen Lane.

Sprott, Eric and Franklin, David (2010), ‘Weakness Begets Weakness: From Banks to Sovereigns to Banks', Sprott Asset Management.

Stelzer, Irwin, ‘Road to Revival Disappears in a Fog of Confusion,'
Sunday Times (Business)
, 25 July, p. 4.

Stratfor (2010), ‘The Making of a Greek Tragedy', 23 April, available at <
http://www.stratfor.com
>.

Transparency International Ireland (2010), ‘Alternative to Silence: Whistleblower Protection in Ireland'.