Who is this fool "nobody" that many people keep talking about?:
"Nobody saw it coming"
"Nobody thought it would get this bad"
"Nobody batted an eyelid"
It is completely untrue to say that "nobody" was talking about this. Many, many economists, international institutions (the OECD, the IMF, even our own Central Bank as far back as 2000), and even journalists warned that the credit bubble in Ireland was unsustainable and that it was built on foundations of sand (borrowing short to lend long at excessive levels of leverage, risk and sectoral concentration).