Nine Jaw Dropping Quotes From AIB Bosses
Jun 24 2013
“So, so…[the €7 billion] is bridged until we can pay you
back..which is never. [Loud laughter]”
Here are just 9 more of the key quotes:
John Bowe recalling what management told the Regulator during
an evening meeting:
To cut a long story short…look, what we need is seven billion
euros.
Bowe recalling how the Regulator responded:
Jesus that’s a lot of dosh…Jesus fucking hell and God…well do
you know the Central Bank only has €14 billion of total
investments so that would be going up 20…Gee…that would be seen.
Jesus you’re kind of asking us to play ducks and drakes with the
regulations.
Bowe on what would happen if the money wasn’t made available:
Well it has to happen. It has to happen, because if it doesn’t
happen we’re going to hit a wall in the next week….We’re already
in breach, you know.
Peter Fitzgerald responding to Bowe’s summary of the meeting:
Em, there’s a lot at stake here isn’t there?
Fitzgerald asks how the figure of €7 billion was arrived at:
Just, as Drummer [CEO David Drumm] would say, ‘I picked it out
of my arse’.
Bowe on what the actual monetary requirement could be:
That number is seven but the reality is we need more than that.
But you know, the strategy here is you pull them [the Central
Bank] in, you get them to write a big cheque and they have to
keep, they have to support their money, you know.
Fitzgerald shows his understanding:
They’ve got skin in the game and that’s the key.
Bowe on the lie to the Regulator:
If they saw the enormity of it up front, they might decide they
have a choice. You know what I mean? They might say the cost to
the taxpayer is too high…if it doesn’t look too big at the
outset…if it doesn’t look big, big enough to be important, but
not too big that it kind of spoils everything, then, then I
think you can have a chance. So I think it can creep up.
Bowe on what could happen next:
I don’t think we’re an easy sell to anybody. So, do I think it’s
going to be possible to offload it? No, I don’t. What will it
end up being? It could be breaking it up and selling individual
books, it could be nationalisation, you know.
http://www.independent.ie/business/irish/anglo/anglo-tapes-they-knew-for-a-year-that-bank-was-in-crisis-29416977.html
http://www.irishexaminer.com/archives/2013/0925/business/no-action-taken-over-anglo-tapes-244190.html