Bank capital figures ‘truly shocking’

BANKERS “played fast and loose with the economic interests of this country”, according to Finance Minister Brian Lenihan, who attempted to shift blame for the massive banking crisis away from the Fianna Fáil- led government.

Announcing the historic bank bailout of around €75 billion, Mr Lenihan said the figures provided to him by financial institutions on their capital situations were “truly shocking”.

He said: “At every hand’s turn, our worst fears have been surpassed... Our banking system, to a greater or lesser extent, engaged in reckless property development lending. In too many cases there were shoddy banking practices.”