€87m loan shuffle was arrogant and disgusting

I WAS disgusted by the revelations of Sean FitzPatrick’s dealings within Anglo Irish Bank.

I realise he did noting illegal, but what arrogance he showed over a period of eight years as he shuffled €87 million in and out of Irish Nationwide in an effort to cover up his gigantic loan from Anglo Irish.

He might have built that bank, but he also risked breaking it without a care for thousands of shareholders. What of the poverty some of these people are now experiencing due to their loss of equity and net worth. In some cases family fortunes have been lost.

It is a further disgrace that auditors did not detect these transactions over all of eight years. The financial regulator is said to have been aware of this situation since last January. What was he doing for 11 months?

I hope all those who have to resign as a result of this scandal do not get golden handshakes and are forced to join the dole queue to see how the other half lives.

Michael O’Connor

Millbrook Court

Mill Road

Midleton

Co Cork