Anglo Irish Bank bosses were ordered to go down to the Central Bank with “arms swinging” to demand a multi-billion euro taxpayer bailout, latest leaked tapes reveal.
In a telephone conversation with a senior colleague, the rogue lender’s then chief executive David Drumm outlines his brusque strategy for bringing cash into the bust bank.
“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,” he tells John Bowe.
In the latest so-called ‘Anglo Tapes’ transcripts, published by the Irish Independent, Mr Drumm says he will threaten regulators unless they write him a cheque.
“We’ll be going down there with our arms swinging. I’m very clear on the proposal,” he told Mr Bowe, Anglo’s then director of treasury.
“I’m going to keep asking the thick question: ’When, when is the cheque arriving?”’
Mr Drumm, who fled to the US after Anglo collapsed, also 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.”
The former bank chief goes on to say how will “lose the plot” and threaten to hand over the keys to the bank and walk away.
“If you want the f***ing keys now, I can give them to you. So I’m relaxed about it.”
The revelations are made in the fourth day of leaked telephone calls during which Mr Drumm and other senior bankers are heard laughing and joking about the lender’s imminent collapse.
The conversations were carried out around September 30 2008 when the then Irish government brought in a €440bn guarantee for all the Irish banks.
The latest recording was from the night before a crucial meeting with the Financial Regulator.