Dysfunctional banks - It’s time to take the gloves off

THE glow of optimism, determination and possibility encouraged by Taoiseach Brian Cowen’s welcome speech last week has not lasted too long. How could it

Any feelgood sentiment created by his belated call to arms has been swept aside by the allegation that Anglo Irish Bank and Irish Life & Permanent colluded to strengthen Anglo’s balance sheet by depositing up to €7 billion in the struggling bank just before the bank’s financial year ended.

This figure, it is believed, included a lodgment of €4 billion just hours after the Government bank deposits guarantee scheme was announced.