Bowing to the bankers

Brian Cowen responded to intense pressure from bank bosses in 2006 to lift controls – despite concerns from the Financial Regulator

12th February, 2011

It was Friday October 13, 2006. Colm Breslin, a senior civil servant in the Department of Finance, was under pressure.

He was being hounded by bankers demanding a new law that would make it easier for them to raise money to fuel their lending spree.

The bankers had been seeking the changes since 2005, and they were growing impatient.

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