Things we could do with Anglo's €20bn bailout cash
Published 24/07/2010 | 05:00
While Anglo Irish Bank turned many executives, employees and shareholders into millionaires, the bank has made the rest of us considerably poorer.
We got a firm indication of the minimum cost of bailing out Anglo last month when chief executive Mike Aynsley told the Dail that "the lion's share" of the €22bn or so poured into the bank will never be seen again.
"That money is gone . . . It will not be recoverable," he said in a rare moment of candour amid all the nonsense about the bank's glowing future once it gets a new name and European Commission approves its plans to create a good bank to help business.