Preventing another collapse - Corruption laws taking far too long

Next Tuesday, August 9, will be the 10th anniversary of one of the events that toppled the Ponzi scheme we had disastrously regarded as an exemplary way of ordering society.

The world economy — and the Celtic Tiger — fell victim to the same it’s-different-this-time vanity and moral vacuity as Cecil the lion did almost a decade later.

On August 9, 2007, BNP Paribas froze the assets of hedge funds over-exposed to America’s sub-prime mortgage market.