Tag Archive for Catastrophic Losses

2011 annual reports for Irish banks reveal potentially catastrophic losses and additional bailouts requirements « NAMA Wine Lake

So far Ireland has spent €67.8bn bailing out the banks, comprising €62.8bn in cash and promissory notes directly injected into the banks, and a further €5bn gifted to the banks by NAMA in state-aid and for which we are now on the hook if property prices don’t recover. In a country whose GDP was €156bn…

The Amazing Vanishing Act: Accounting Control Fraud Disappears from the Regulatory Lexicon

By William K. BlackCriminologists know that accounting control fraud causes greater financial losses than all other forms of property crime – combined.  Some of the world’s best economists, George Akerlof and Paul Romer, praised the S&L re…