Saturday 21 January 2017

Michael Brennan: Toxic Anglo has poisoned everything it touched

Published 12/04/2010 | 05:00

WHAT do Jonah Lomu, Brian Cowen and the Irish credit union network have in common?

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Well, New Zealand rugby giant Jonah Lomu once played for the Barbarians in Lansdowne Road in a game that was sponsored by a bank. Taoiseach Brian Cowen once went to a dinner to mark the retirement of a close friend of his from the board of a bank. And some of the Irish credit unions apparently have funds from their savers invested in a bank.

And yes, the bank in each three cases is the same -- Anglo Irish Bank. It's tempting to compare it to a rotten apple because it has given off the financial equivalent of ethylene, which speeds the ripening of the other apples and ruins the whole barrel.

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