Canada’s federal government issued new rules on Dec. 21 that give credit unions the option to become federally incorporated entities, allowing them to expand across the country and better compete with banks.
On a Sunday morning in October, Simon Kelly sat in the breakfast room of Dublin’s Morrison Hotel, looking eager to chat. Simon, 38, and his father, Paddy Kelly, 66, were once among Ireland’s most audacious real estate developers. During the boom years, they borrowed about 700 million euros ($950 million) from Anglo Irish Bank Corp. to buy golf resorts and build hotels.
Ireland’s Prime Minister Brian Cowen said there is “no question of inappropriate behaviour” when he met Sean Fitzpatrick , former chairman of Anglo Irish Bank Corp , a few months before the September 2008 Irish banking guarantee.