Tuesday, June 25, 2013

Bankers Caught On Tape, Joking About Bailout, And How They'd Never Pay It Back

Bankers Caught On Tape, Joking About Bailout, And How They'd Never Pay It Back
uploaded 25.06.2013

The Irish Independent, a Dublin-based newspaper, has uncovered tapes of an internal phone conversation from September 2008 between two executives at Anglo Irish Bank during its bailout deal and they sound pretty scandalous. The Irish Independent points out that the recordings show they misled the Central Bank. The executives from the recording have been identified as John Bowe (head of the bank's capital markets) and Peter Fitzgerald (director of retail banking). However, Bowe "categorically denied" that he misled the Central Bank and Fitzgerald, who wasn't involved in discussions with regulators, said he was unaware of any intention to mislead, the report said. Either way, the newly revealed recordings are still embarrassing.

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