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Tuesday 2 September 2014

Anglo Quotes of the Week

Published 16/02/2014 | 02:30

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The quotes from the second week of the Anglo trial

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'I thought it was a marvellous institution. It had grown its profits by 30 per cent compound over 30 years.'

- Sean Quinn Senior on why he invested in Anglo Irish Bank.

'At the time we only spoke about putting a toe in the water, but I'm afraid the whole head, feet and neck went into the water.'

- Sean Quinn Senior.

'It's my signature but I don't remember signing it.'

- Patricia Quinn, wife of Sean Quinn Senior, looking at documents relating to a €100m loan from Anglo.

'It was one of those moments you will never forget in life.'

Michael O'Sullivan, former director of divisional lending at Anglo, on his shock at learning Sean Quinn had built up a stake of more than 24pc in Anglo.

'Very, very, very positive'

- Brian Gillespie, Anglo's former head of compliance in Ireland, described the reaction of Con Horan from the Financial Regulator's office to the Maple 10 deal.

'Probably, yeah.'

- Maple 10 borrower and developer Gerry Gannon confirms he was worth close to €1bn in 2008.

'It meant if anything happened I was to pay back 25 per cent, which I was quite happy with.'

- Gerry Gannon on his €45m loan deal to buy Anglo shares.

'To inspire a bit of confidence and to fight off the attack.'

- Maple 10 borrower and developer Gerard Maguire on the rationale by former Anglo executive Pat Whelan asking Mr Maguire to invest in the bank.

'It was a concern for me because I had signed something that wasn't authorised.'

- Former Anglo executive Michael O'Sullivan on his belief that the bank board was not aware of a new loan condition for the Maple 10 borrowers.

'I was anxious to help when I was asked.'

- Developer John McCabe, on being asked by Pat Whelan to borrow €60m to buy shares.

'The bank's whole approach to customer service was to minimise the amount of form filling for customers."

- Former Anglo employee Brian Gillespie.

Sunday Independent

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