Inside Job

I recently watched a documentary about the collapse of the economy because of the housing bubble. But the documentary starts in Ireland and the deregulation of their banking system. Years ago, the Ireland government decided to deregulate the government banks letting them go private. But the three major banks in Ireland that became privatize started to become corrupt. Many of the banks leaders were borrowing billions of dollars against the banks for their own personal use. One banker took 40 million dollars for his own personal use, to buy a pin striped jet. When the collapse of the banks started to fall, many people turned to the government wondering why they hadn't regulated these banks more closely and lead to the fall of the Ireland economy.