Ireland's government, banks and regulators all gambled on a runaway property market and left the country particularly badly exposed to the global credit crisis, banking experts concluded in two government-commissioned reports published Wednesday.
The reports _ one by Central Bank of Ireland governor Patrick Honohan, the other by Anglo-German economists Max Watson and Klaus Regling _ blamed Prime Minister Brian Cowen for overseeing budgets that fueled rampant property speculation until the bubble burst in 2008. They said Ireland's ill-staffed bank regulators repeatedly failed to raise the alarm despite evidence of unethical accounting and reckless lending practices at …
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