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Updated 9.36
THE IRISH INDEPENDENT has published more recordings of Anglo executives discussing crucial matters concerning the bank in the run-up to the bank guarantee in September 2008.
In the latest recordings released on its website this morning, head of capital markets John Bowe and the bank’s chief executive David Drumm are heard talking strategy ahead of a meeting with the Financial Regulator and the Central Bank on 19 September.
With the bank losing a significant amount of money on a daily basis – as much as a €1 billion – Drumm is keen to ensure that the State signs off on a significant cheque to boost the bank’s coffers. This conversation came just over a week before the infamous bank guarantees.
The Independent points out that some of the language used is not suitable for a family newspaper and similarly we’d warn that readers may find some of the language below offensive.
Here are a few choice quotes from the latest recordings…
Was it a great day, a bad day, or a better day? Bowe isn’t sure:
Bowe: “A great day but we lost a bill (billion). Yeah, the money, I mean, it was another bad day but, but perversely it actually felt like it was a much better day than it turned out to be.”
Drumm won’t take any messing from the authorities:
Drumm: “It could be another bureaucratic, go-nowhere meeting. But having said that, I won’t, I won’t put up with that…“I’ll be forcing the agenda. Really, we’ll be going down there with our arms swinging. I’m very clear on the proposal what we can and can’t do.”
Bowe and Drumm agree they need to sort Anglo out with money:
Bowe: “I think the first order of business is, is sorting ourselves out ”Drumm: “No, no, that goes without saying. ‘Do you have the cheque here now for the loan?’ That will be the first thing I’ll ask.”
Drumm needs the money:
Drumm: “We need the fucking loans because we’re running out of money. ‘We gave you the term sheet. Can we have the money?’”Bowe: (laughs)
Drumm wants to keep it simple
Drumm: “Get into the fucking 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.”
Drumm knows that Anglo holds the cards:
Drumm: “Because if they don’t, don’t give to us on Monday they have a bank collapse, potentially, if the fucking money keeps running out the door, the way it has been running out the door.”
Drumm loves a good swear:
Drumm: “Yeah and we’ll be saying: ‘Yeah, because a stress because HBOS were fucking sold and Lehman’s went bust and fucking Bank of America fucking took over Merrill’s and other fucking non-normal things happened, you cunt.Bowe: (Laughs) Yeah, I know. So, anyway…”
First published 8.23
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Yadda Yadda Jeff old boy. Have you not heard, you’re yesterdays news. Time the world moved on and left these dinasours behind in their caves
The DUP. The only party to never miss an opportunity to miss an opportunity
Jeffrey the puppet on the strings operated by Dodds, Paisley and Sammy Bigot Wilson. We all know they are going to say NO
DUP: It’s the Flintstones
In the most basic terms this translates to DUP will never go into government with a Catholic 1st minister.
#Dinosaurs
@damian jennings: that’s it. In a nutshell.
@Joe Bergin.: Absolutely. Unbelievable the sense of entitlement they have.
The only thing that the DUP are on course for is the ending of their ‘precious union’ and its their rhetoric and actions that will hasten its demise.
Oh God, will they please ignore those dinosaurs and set up a government without them with the other parties representing all and get NI back on track
“Grounded in reality”. This party are as far away from reality you can get
….says the masters of rhetoric and highly negative emotive rhetoric at that…
He says their deliberations will be grounded in ‘reality’. They don’t know the meaning of that word. Both them and their supporters live in a completely different universe. Still stuck in the stoneage and everyone is paying the price for it. As the Alliance party leader said today. No party should hold a veto on making progress for Northern Ireland. I’ll keep saying it, it’s high time Jeff and his buddies were sidelined and let normal life resume for the benefit of everbody.
C
U
N
T
@Self Employed Anarchist:
lol … job for TJ’s IT Dept. on Monday :))
@zephyrum: I can’t believe it’s still up – I stand by it though- children are cold and hungry because of this “ persons “ arrogance.
@Self Employed Anarchist: in a nutshell. Well said.
@Self Employed Anarchist: I couldn’t have said it better.
@Self Employed Anarchist: i’m amazed the journal allowed this vile word through .The N word has been consigned to the dustbin of history and so should the C.word
Way to go…. it seems Jeffrey has done the SWOT analysis course
Hee Haw
They don’t want a way ahead, they just want everything THEIR way. They’re like spoilt brats
He should be KNOCKED OUT instead.
What are they going to do, release the dogs to violence and threats
If you gave the dup everything they asked for, they would find fault and disagree, gombeen ass h ole s. Should never be listened to…
Ya have to feel sorry for them… poor things… bless them.
It would be great if Mr Donaldson said something positive for a change.
And by the way, Mary Lou McDonald is not doing anyone any favours by constantly sticking for face into Northern politics. She’s a red rag to a bull up there. Michelle o Neill is well able to fight her corner and would have more credibility if she was seen as being her own woman.
I feel sorry for the man: it must be very painful to have someone stuck in your Iris.
Be careful what you wish for. A reform of the GFA could put the Alliance, DUP and SDLP into a coalition Gov with the largest of those parties suppling the First Minister. It would still be a cross community Gov and get things moving again!!
have your say