Thursday October 29, 2020

Exclusive: David Drumm says bank's losses "too great to be possible"

Anglo’s €30 billion loss does “not stand up to even the most rudimentary commercial scrutiny”

31st January, 2016
David Drumm, former chief executive of Anglo Irish Bank, awaits extradition to Ireland in a US prison

At the press conference that presented the findings of the banking inquiry last week, much was made of its work to expose various myths such as that the bank guarantee was only thought up on the night itself.

Another myth, however – that Anglo Irish Bank cost the state €30 billion – was repeated without any real examination.

Like so much else, it was an opportunity lost.

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