One scalp won’t remake our banks
Drumm is a changed man, but the system that created him hasn’t changed one iota
In early 2009, this newspaper began investigating a story that Anglo Irish Bank had artificially boosted its deposit base around its year-end to inflate its financial strength. I had been told by a number of reliable sources that the amount ran to several billion euro and that it had come from Irish Life and Permanent. In addition, I understood that the matter was also being investigated by the Financial Regulator.
In early February, we published the...
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