Irish equity investors are still feeling the pain
The subprime mortgage crisis in the US during the summer is still showing little sign of abating and we continue to be treated to an almost daily diet of bad financial news. There is no doubt but that when the various books on bubbles and financial euphoria are being updated, the current market turmoil, which is a direct result of irresponsible behaviour on the part of bankers, will warrant a long chapter in its own right.
When we see the heads of two of the world’s major banking organisations walking the plank within a week of each other, it truly does signify a remarkable period. Mind you, the two particular victims in the past week are being well rewarded for professional failures. Nice work, if one can get it.
