I am so at home in Dublin, more than any other city, that I feel it has always been familiar to me. It took me years to see through its soft charm to its bitter prickly kernel - which I quite like too.

Paul Daly

Cognitive Tics of the Herd

Limiting the size of financial institutions seems a likely and probably popular outcome, in the shape of something like the so-called “Volcker Rule”, named after Paul Volcker, formerly the chair of the Federal Reserve and now a key adviser to President Obama. But even here problems abound. To begin with, although Too Big to Fail is an apt title, Ross Sorkin could just as easily have entitled his book Too Interconnected to Fail.

A Sound Constitution

The adoption of an amendment process that required a referendum to approve any constitutional change can be explained by de Valera’s need to establish the people as the font of all authority and thereby marginalise extreme nationalists. More troubling is the odd – though never once invoked – Article 27 provision, which allows the president to call a referendum or general election on a contentious issue. There is absolutely no benefit to a governing party from this provision, which is further evidence of de Valera’s willingness to put democratic principle before party advantage.