Drumm: Tapes are 'embarrassing' and 'shocking' reminder of pressure

Former Anglo Irish Bank chief executive David Drumm has apologised for using inappropriate language before the failing institution received a massive cash bailout from the Government.

He said he fully understood why the published excerpts of taped conversations with other senior executives had offended some people but claimed they suggested an incorrect interpretation of why the government issued a blanket bank guarantee in September 2008.