Corrente

If you have "no place to go," come here!

Irish Independent has tapes of Irish-Anglo bankers laughing about conning Irish gov't into supporting their failing bank

Inside Anglo: the secret recordings
Exclusive: Tapes reveal the lies and deception that led to the bank bailouthttp://www.independent.ie/business/irish/inside-anglo-the-secret-recordings

The astonishing tapes show senior manager John Bowe, who had been involved in negotiations with the Central Bank, laughing and joking as he tells another senior manager, Peter Fitzgerald, how Anglo was luring the State into giving it billions of euro.

Mr Fitzgerald had not been involved in the negotiations with the Central Bank and has confirmed he was unaware of any strategy or intention to mislead the authorities. Mr Bowe, in a statement last night, categorically denied that he had misled the Central Bank.

The audio recordings are from the bank's own internal telephone system and date from the heart of the financial crisis that brought the State to its knees in September 2008.

Anglo itself was within days of complete meltdown – and in the years ahead would eat up €30bn of taxpayer money. Mr Bowe speaks about how the State had been asked for €7bn to bail out Anglo – but Anglo's negotiators knew all along this was not enough to save the bank.

The plan was that once the State began the flow of money, it would be unable to stop.

http://www.independent.ie/business/irish/inside-anglo-the-secret-recordi...

Interestingly, I came across this tasty tidbit via RT:

'Get them to write a big check:' Irish banker pulls bailout figure from 'arse' in leaked tapes

http://rt.com/news/irish-banker-bailout-arse-tapes-184/

Comments