Since the 1960s, Fianna Fáil had linked itself, financially and morally, to the property developers who epitomized the native resurgence. This co-dependency had embraced the bankers who funded those developers, especially Fitzpatrick’s brash, upstart Anglo Irish Bank. It could not believe that these gods were failing. It chose instead, with dreadful consequences for the Irish public, to believe that they were merely experiencing some temporary troubles. What the gods needed were more sacrifices. The specific conceptual error was to confuse liquidity with insolvency.
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