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Ireland Buys 75% of Troubled Lender in Banks Bailout

Anglo Irish goes into taxpayers' hands after scandal

By Jason Farago, Newser Staff

Posted Dec 22, 2008 4:33 AM CST

(Newser) – Ireland became the latest nation to partially nationalize struggling banks last night, buying 75% of the deeply troubled Anglo Irish Bank and bailing out others, reports the Financial Times. The bank, whose shares had already dropped 95% from bad mortgage debts, suffered a further blow... Read full story »

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Ireland Buys 75% of Troubled Lender in Banks Bailout

Anglo Irish goes into taxpayers' hands after scandal

Ireland • mortgage debt • banking • Irish economy • rescue package • recapitalization • Anglo Irish

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More Newser Stories

Cowen Teeters as Greens Quit Irish Gov't

Elections now likely for February

Ireland PM Cowen Quits as Party Leader

But says he'll lead government through March election

Post-Crash Ireland Becomes Luxury Bargain Basement

Fancy cars, wines, homes selling at deep discount

Denial Exacerbated Meltdown

Banks, like homeowners, refused to believe how bad things really are

Economic Recovery to Take Months: Paulson

But banking remains 'safe and sound'

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