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Something Rotten Paperback – Illustrated, Sep 2006

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Product details

  • Paperback: 257 pages
  • Publisher: Gill & Macmillan Ltd; illustrated edition edition (Sept. 2006)
  • Language: English
  • ISBN-10: 0717139727
  • ISBN-13: 978-0717139729
  • Product Dimensions: 21 x 13.6 x 2.4 cm
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon Bestsellers Rank: 1,433,459 in Books (See Top 100 in Books)

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Product Description

About the Author

Simon Carswell is News Editor of the Sunday Business Post.

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By DOPPLEGANGER TOP 500 REVIEWER on 1 Oct. 2012
Format: Paperback Verified Purchase
Simon Carswell takes a look at 14 major banking scandals that have occurred in Ireland in the 30 years up to 2006 and most are aware that these calamities were the precursor of the massive banking collapse that hit the Irish Nation and more particularly tax payers in 2008. This book spells out the financial hurt to every man and woman in the country (excluding of course the fat-cat bankers)that lax practice and weak regulation in its financial services sector causes, and yet it careers on regardless. The author spells out events that clearly illustrate that the probable cause of almost non-existent control and regulation was that those senior politicians and regulators responsible for the nation's financial well-being did not have a clue what they were doing, let alone understand what was happening and the dire consequences rapidly about to unfold.

That, in the years leading up to 2007/8 the Irish authorities experienced and should have taken lessons from the plethora of financial disasters reported in this book, seems to have been totally disregarded as yet another and many times more toxic financial crisis raged through the Irish Banking System that given just a modicum of commonsense and due diligence could and should have been avoidable or at least much less severe.

The book opens with that financial buccaneer Ken Bates (of the Chelsea FC and Leeds United fame)owning the Irish Trust Bank which he successfully steered into bankruptcy leaving 1200 depositors with the loss of their savings. Other financial ineptitudes, scams and downright rip-offs include the Private Motorists Provident Society, the Insurance Company of Ireland, the Irish Permanent Building Society, Ansbacher, Irish National Bank, AIB and foreign exchange transactions.
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