The failure of the 3rd largest bank in Ireland would have serious ramifications for the entire Irish economy. Nationalization was seen as the only way to save the bank after the damage done to its reputation following the revelation of FitzPatrick’s ethical failings. In order to protect the health of the banking system, the Irish government was forced to take steps to nationalize the bank. The Anglo Irish Bank Corporation Bill 2009 that enabled the government to nationalize the bank was narrowly approved by the Irish lower house before passing without a vote in the upper house on 20 January 2009. The Irish President signed the bill the following day.