From crazy start to tragic end, Anglo 'stars' did what they liked
SO-CALLED 'light-touch regulation' of the banks would in fact have been a blessing. There are still so many unanswered questions about the level of banking regulation in Ireland during the phoney property boom that brought us to the verge of financial and moral bankruptcy.
The latest revelations in the Anglo tapes in the Sunday Independent yesterday show that David Drumm and his fellow bank executives thought the financial watchdogs were utterly ineffective.
The bankers do not appear to rate the top people in the Central Bank and it seems the officials in the Financial Regulator's office and in the Department of Finance treated the Anglo bosses with deference.