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Credit Institutions (Financial Support) Act 2008
The Credit Institutions (Financial Support) Act 2008 is an Act of the Oireachtas (Irish parliament). The Act was a piece of emergency legislation decided on by the Irish Government on Tuesday, 30 September 2008 and enacted on Thursday, 2 October to provide a €440 billion guarantee to six Irish banks to prevent possible collapse as a result of the Financial crisis of 2007–2008 It was unusual in that it was the first time since its foundation that the Irish senate began debate on legislation after midnight, finally passing the bill at 8am on Thursday 2 October. Background The decision to introduce the bill was made following Monday 29 September 2008, when the ISEQ fell a record 13%, when a number of banks in Europe were collapsing and the United States congress initially rejected their Emergency Economic Stabilization Act of 2008 and a subsequent record points-value fall in the Dow Jones Industrial Average The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oireachtas
The Oireachtas (, ), sometimes referred to as Oireachtas Éireann, is the Bicameralism, bicameral parliament of Republic of Ireland, Ireland. The Oireachtas consists of: *The President of Ireland *The bicameralism, two houses of the Oireachtas ( ga, Tithe an Oireachtais): **Dáil Éireann (lower house) **Seanad Éireann (upper house) The houses of the Oireachtas sit in Leinster House in Dublin, an eighteenth-century Duke, ducal palace. The directly elected Dáil is by far the more powerful branch of the Oireachtas. Etymology The word comes from the Irish language, Irish word / ("deliberative assembly of freemen; assembled freemen; assembly, gathering; patrimony, territory"), ultimately from the word ("freeman"). Its first recorded use as the name of a legislative body was within the Irish Free State. Composition Dáil Éireann, the lower house, is directly elected under universal suffrage of all Irish citizens who are residents and at least eighteen years old. An election i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Irish Government
The Government of Ireland ( ga, Rialtas na hÉireann) is the cabinet that exercises executive authority in Ireland. The Constitution of Ireland vests executive authority in a government which is headed by the , the head of government. The government is composed of ministers, each of whom must be a member of the , which consists of and . The Taoiseach must be nominated by the Dáil, the house of representatives. Following the nomination of the , the President of Ireland appoints the to their role. The President also appoints members of the government, including the , the deputy head of government, on the nomination of the and their approval by the . The government is dependent upon the Oireachtas to pass primary legislation and as such, the government needs to command a majority in the in order to ensure support and confidence for budgets and government bills to pass. The Government is also known as the cabinet. The current government took office on 17 December 2022 with Le ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Crisis Of 2007–2008
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ISEQ
Euronext Dublin (formerly The Irish Stock Exchange, ISE; ga, Stocmhalartán na hÉireann) is Ireland's main stock exchange, and has been in existence since 1793. The Euronext Dublin lists debt and fund securities and is used as a European gateway exchange for companies seeking to access investors in Europe and beyond. With over 35,000 securities listed on its markets, the exchange is used by over 4,000 issuers from more than 85 countries to raise funds and access international investors. A study by Indecon (international economic consultants) published in 2014 on the Irish Stock Exchange found that having a local stock market and securities industry directly supports 2,100 jobs in Ireland and is worth €207 million each year to the Irish economy. It also found that having a domestic securities industry centred on the Irish Stock Exchange generates €207 million in estimated direct economic impact (measured in Gross Value Added or GDP) and €230 million in direct tax for t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Banks Acquired Or Bankrupted During The Great Recession
This is a list of notable financial institutions worldwide that were severely affected by the Great Recession centered in 2007–2009. The list includes banks (including savings and loan associations, commercial banks and investment banks), building societies and insurance companies that were: * taken over or merged with another financial institution; * nationalised by a government or central bank; or * declared insolvent or liquidated. See also * List of bank failures in the United States (2008–present) Notes * Acquired a nearly 80% share in exchange for a US$ The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...85 billion loan. * Only trading assets, trading liabilities, and head offices were acquired. * Only European and Middle Eastern equities and investment banking opera ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Emergency Economic Stabilization Act Of 2008
The Emergency Economic Stabilization Act of 2008, often called the "bank bailout of 2008", was proposed by Treasury Secretary Henry Paulson, passed by the 110th United States Congress, and signed into law by President George W. Bush. It became law as part of Public Law 110-343 on October 3, 2008, in the midst of the financial crisis of 2007–2008. It created the $700 billion Troubled Asset Relief Program (TARP) to purchase toxic assets from banks. The funds were mostly redirected to inject capital into banks and other financial institutions while the United States Department of the Treasury, Treasury continued to examine the usefulness of targeted asset purchases. A financial crisis had developed throughout 2007 and 2008 partly due to a subprime mortgage crisis, causing the failure or near-failure of major financial institutions like Lehman Brothers and American International Group. Seeking to prevent the collapse of the financial system, Secretary of the Treasury Paulson call ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dow Jones Industrial Average
The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow (), is a stock market index of 30 prominent companies listed on stock exchanges in the United States. The DJIA is one of the oldest and most commonly followed equity indexes. Many professionals consider it to be an inadequate representation of the overall U.S. stock market compared to a broader market index such as the S&P 500. The DJIA includes only 30 large companies. It is price-weighted, unlike stock indices which use market capitalization. Furthermore, the DJIA does not use a weighted arithmetic mean. The value of the index can also be calculated as the sum of the stock prices of the companies included in the index, divided by a factor which is currently () approximately 0.152. The factor is changed whenever a constituent company undergoes a stock split so that the value of the index is unaffected by the stock split. First calculated on May 26, 1896, the index is the second-oldest among U.S. market ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Post-2008 Irish Economic Downturn
The post-2008 Irish economic downturn in the Republic of Ireland, coincided with a series of banking scandals, followed the 1990s and 2000s Celtic Tiger period of rapid real economic growth fuelled by foreign direct investment, a subsequent property bubble which rendered the real economy uncompetitive, and an expansion in bank lending in the early 2000s. An initial slowdown in economic growth amid the international financial crisis of 2007–2008 greatly intensified in late 2008 and the country fell into recession for the first time since the 1980s. Emigration, as did unemployment (particularly in the construction sector), escalated to levels not seen since that decade. The Irish Stock Exchange (ISEQ) general index, which reached a peak of 10,000 points briefly in April 2007, fell to 1,987 points—a 14-year low—on 24 February 2009 (the last time it was under 2,000 being mid-1995). In September 2008, the Irish government—a Fianna Fáil–Green coalition—officially acknowl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 In Irish Law
8 (eight) is the natural number following 7 and preceding 9. In mathematics 8 is: * a composite number, its proper divisors being , , and . It is twice 4 or four times 2. * a power of two, being 2 (two cubed), and is the first number of the form , being an integer greater than 1. * the first number which is neither prime nor semiprime. * the base of the octal number system, which is mostly used with computers. In octal, one digit represents three bits. In modern computers, a byte is a grouping of eight bits, also called an wikt:octet, octet. * a Fibonacci number, being plus . The next Fibonacci number is . 8 is the only positive Fibonacci number, aside from 1, that is a perfect cube. * the only nonzero perfect power that is one less than another perfect power, by Catalan conjecture, Mihăilescu's Theorem. * the order of the smallest non-abelian group all of whose subgroups are normal. * the dimension of the octonions and is the highest possible dimension of a normed divisio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Acts Of The Oireachtas Of The 2000s
The Acts of the Apostles ( grc-koi, Πράξεις Ἀποστόλων, ''Práxeis Apostólōn''; la, Actūs Apostolōrum) is the fifth book of the New Testament; it tells of the founding of the Christian Church and the spread of its message to the Roman Empire. It gives an account of the ministry and activity of Christ's apostles in Jerusalem and other regions, after Christ's death, resurrection, and ascension. Acts and the Gospel of Luke make up a two-part work, Luke–Acts, by the same anonymous author. It is usually dated to around 80–90 AD, although some scholars suggest 90–110. The first part, the Gospel of Luke, tells how God fulfilled his plan for the world's salvation through the life, death, and resurrection of Jesus of Nazareth. Acts continues the story of Christianity in the 1st century, beginning with the ascension of Jesus to Heaven. The early chapters, set in Jerusalem, describe the Day of Pentecost (the coming of the Holy Spirit) and the growth of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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