Saturday 18 November 2017

Michael Brennan: Toxic Anglo has poisoned everything it touched

Michael Brennan

Michael Brennan

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

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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