It’s emerged that the former CEO of Anglo Irish Bank proposed to burn the bondholders for 9 billion euro.
In the latest tapes revealed by the Irish Independent today, David Drumm speaks of how Merril Lynch, the governments external advisors on Anglo, had turned against the bank and branded it a basket case.
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The tapes also reveal that Fianna Fail, who were in government at the time refused to shut down Anglo Irish Bank despite warnings from the Merril Lynch.
