Was it a well-orchestrated conspiracy by a few very wealthy people? Was it simply mass plutocratic hysteria or was it appalling governance at every level of the Irish state from the Financial Regulator, the planners and the Department of Finance? Maybe, it was a combination of all three, with a bit of half-assed ideology stitching the fabric together. One other thing is clear: the media – much of them now baying for blood – were as culpable as any other influential sector of our society. The media, which should have been critical and alert to the threats to our prosperity, caved in and believed the hype.
Adds Everyone’s hero [Everyone’s? – Ed], Robert Peston has more on what’s under consideration.