This is lengthy, but it is a wonderful, wonderful description of what went wrong in Ireland...just like all bubbles from history. Warning...it contains the "F" word in some text. Be ye warned. But it is so well written and so packed with information I am compelled to post it with that caveat.
Oh yes and one more thing...Greece is in even worse shape than Ireland.
http://www.vanityfair.com/business/features/2011/03/michael-lewis-ireland-201103
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