It is the speed of Wile E. Coyote’s chase that brings him so far over the abyss before he realises his mistake. When the crash came, Ireland was further out than most of the others.
Yes, those in charge should have been more aware of the risks than a cartoon character, but before claiming world exclusive rights to this type of error, let us not forget the foreign banks from Britain, Denmark and the Netherlands who, in their enthusiasm not to miss out on the money to be made from the Irish boom, lost just as much of their book as did the Irish controlled banks.