I was going to post this on the €4,500 p.m. decreasing house price thread but Kerrynorth is making points re. M3 etc. and I didn't want to go off track.
Century Finance's collapse and the troubles being had by others are indicative of the coming to an end of US growth. Is The Celtic Tiger a myth and merely a dependency of the global economy? I believe so, and we will follow suit soon, except that our reliance on the construction sector will mean a much harder landing, and that there are no measures in place to soften the landing.
Fianna Fail/PDs may indeed be happy if they are not in government when this happens.
US Lenders Implode
What Irish Financial institutions are exposed to the greatest risk? I don't think that 100% mortgages have been around long enough for Irish institutions to be exposed to substantial risk and individuals will bear the brunt.