MAJOR FOREIGN HOLDERS OF U.S. TREASURY SECURITIES

As the document is laid out in columns of text requiring wide columns, it doesn't post well here.

http://www.treas.gov/tic/mfh.txt

What is interesting and a little frightening for me is that Ireland has gone from holding $13.9 billion of worthless T-Bills in June 2008 to $50.6 billion in May 2009. What on earth is going on? A country that was already in recession, whose government claims they don't have money for this, that and the other, is pouring billions into the black hole that is the US treasury?