An Irish Banking Manifesto: The Views of a Disenchanted Former Banker

An Irish Banking Manifesto: The Views of a Disenchanted Former Banker

by Tim McCormick

Paperback

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Product Details

ISBN-13: 9781908308672
Publisher: Liffey Press
Publication date: 02/20/2015
Pages: 280
Product dimensions: 6.10(w) x 9.20(h) x 1.00(d)

Table of Contents

Foreword Shane Ross vii

Acknowledgements ix

Acronyms and Glossary xi

Introduction 1

Part 1 Background to a Crisis

1 The Irish Financial Crisis Revisited 16

2 Weaning the Celtic Tiger - The Evolution of Irish Banking 22

3 Lessons from Overseas Banking Failures 33

Part 2 Identifying the Immediate Causes of Failure

4 Alchemy and the Calculation of Bank Profits 45

5 The Seven Deadly Sins - The Route to Insolvency 60

6 Riding the Celtic Tiger 75

7 The Fundamental Rules of Lending 88

8 How Contagion Spreads Risk 102

Part 3 Culture, Competition and Culpability - Revealing the Root Causes

9 Retail and Investment Banks - Two Conflicting Cultures 117

10 Competition in Ireland's Unique Banking Culture 129

11 Shareholders or Management First? 142

12 The Rewards System and the Insidious Bonus Culture 153

13 The Irish State - A Reluctant Bride 166

Part 4 Devising Solutions - The Rugged Road Ahead

14 Ethical Banking - A Necessity or a Contradiction in Terms? 178

15 International Banking Reform - The Glacial Pace of Change 190

16 Challenges and Options for Ireland 205

17 Understanding the Real Causes of the Debacle 218

18 A Manifesto for Reform 230

Appendix: A Lending Checklist 248

Endnotes 250

Selected Further Reading 260

Index 265

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