Former NTMA chief: Anglo and Nationwide should have been nationalised

The body charged with borrowing for the State believed Anglo and Irish Nationwide would have been nationalised, rather than guaranteed, in September 2008.

The former director of finance and risk at the National Treasury Management Agency has told the banking inquiry that long before the night of the guarantee, they refused to lend money to INBS because they didn't understand their business model, and had restricted lending to Anglo.