2006 - Central Bank hid property crash forecast


I remember quite a few warnings from them, in fairness. I vaguely recall them being told to get back in their box, not sure was that BOI or a politician.

Though given the scale of the problem and their remit, we should have expected more.
an excerpt from wiki


The tragic part is 2006 was far too late. the warnings in I think 2001 should have been acted on. My view is the FR is the bigger problem though because the loosening of lending criteria on the residential side was a huge problem.

Back in 2006 this is what they reported and what was spun in the media

Anyone who read the report also saw they reported a 73% overvaluation? why was no credence given to the higher over valuation?


So yes they did hide the results of the analysis that went around the 73% overvaluation.

How many purchased in late 2006/07

Who was pulling the strings at both the Central Bank and the Regulator, There were weak soundings from both on the Risks. Who silenced them, It is critical that the minutes of that meeting be released.

Bertie, via Sean Fleming TD, told them to take a jump. I used a relevant clip in the video below. In it - a clip from Prime Time - Sean Fleming said Bertie was right to ignore the warnings from the CB . It was June '06 if memory serves…

You hear Keelin Shanley asking Fleming about the warning, then Fleming’s response moments later. See video.

Excellent montage.

Financial and political journalists in this country are a bunch of gobshites for the way they treated their “betters” during the bubble.


(everytime I hear that Bertie suicide quote, I have this desire to swing a well-aimed steel toe-capped boot into his town halls - scumbag !..as for those who guffaw and indeed start to applaud his pathetic quip, bad cess to them - may they die screaming)