Anglo: What they said - day four
Published 11/02/2014 | 02:30
* I thought it was a marvellous institution. It had grown its profits by 30pc compound over 30 years."
Sean Quinn snr on why he invested in Anglo Irish Bank.
* We thought, 'we are on our own. Obviously no one else thinks it.' We thought we took a very conservative approach." Sean Quinn snr on the same investment.
* There were brokers left, right and centre talking about Anglo being the best bank in the world." Sean Quinn snr on Anglo Irish Bank.
* It started off friendly enough but it didn't end friendly." Sean Quinn snr on a meeting with David Drumm.
* We'd always like to keep under the radar." Sean Quinn snr.
* I rang David Drumm in the first or second week in December 2007. He asked me what it would take to sort it out. I said about €400m and he was back within the hour, and he'd give me €500m to tidy it up." Sean Quinn snr.
* We lost €3.2bn through the Anglo fiasco. I was a fool." Sean Quinn snr
* We didn't mean to go in as deep as we did." Sean Quinn snr
* In 40 years of the Quinn Group, I was never involved in the administration of the company. I left school at 15, so I leave that to others. I was involved in spending money stupidly." Sean Quinn snr
* You were scaring him into lending you the money. Is that not the reality?" Brendan Grehan, SC, for Patrick Whelan.
* Your account of events is coloured very much by your losses." Brendan Grehan.
* I don't call it a loan. They had invested in our name in their bank." Sean Quinn snr.
* The bank was in rude health and we shouldn't be pursuing legal proceedings. We'd come to a gentleman's agreement and we'd all live happily ever after." Sean Quinn snr on what he heard at a meeting with David Drumm and Sean FitzPatrick after the guarantee.
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