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This is a silver level post. The last piece I wrote on Ireland got an interesting response from a reader over at Seeking Alpha that I agree with. He commented:
I think a great part of the equation of not bailing out the institution has to do with making those people who were at fault responsible.
The reality is that never happens. Bob Nardelli, walks away from every business he nearly destroys with his pockets stuffed with millions.
They may be incompetent, they may be responsible, but they aren't stupid and they build themselves walls to protect them selves. We all saw the executives at Border's award themselves bonuses for ...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.