Thursday, June 27, 2013

Inside Anglo Irish Bank - The Secret Recordings


ANGLO boss David Drumm's strategy was to go down to the Central Bank "with our arms swinging" to demand a cash injection for his sinking bank.

He explained his strategy about dealing with the Central Bank to senior colleague John Bowe: "Get into the f**king simple speak: 'We need the moolah, you have it, so you're going to give it to us and when would that be? We'll start there."

In the latest Anglo Tapes, Mr Drumm is heard saying he would be threatening regulators unless they wrote him a cheque.

"We'll be going down there with our arms swinging. I'm very clear on the proposal," he told Mr Bowe.

He is also heard threatening to shut Anglo Irish and "hand the keys" to the State if he did not get a fresh influx of capital from the taxpayer.

"I'm going to keep asking the thick question: 'When, when is the cheque arriving?'"

Speaking of a potential collapse, Mr Drumm tells Mr Bowe: "And by the way, the game has changed now because really the problem now is at their [regulators'] door. Because if they don't give it [€7bn] to us on Monday they have a bank collapse. If the f***ing money keeps running out the door, the way it has been running out the door."

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