Why bail out 10 big gamblers?

WHEN Anglo Irish Bank needed to prop up its share price, it called in 10 friends and asked them if they would borrow e30m each to buy the bank’s shares.

We all know that a share price can rise and fall (see Eircom) and, in the absence of insider trading knowledge, it is all a bit of a flutter.

Therefore, when the Anglo share price collapsed, these individuals probably lost e28m each on the deal.