Wednesday 21 February 2018

Anglo a cuckoo in the nest

Anglo Irish Bank looks increasingly like the cuckoo in the nest, its voracious appetite fed by surrogate parents who suspect in their hearts that something odd is happening but keep doing what they believe is in the best interests of the species.

Even those who vigorously support the National Asset Management Agency nest regard its most demanding occupant with some suspicion.

The economist Peter Bacon yesterday declared himself more convinced than ever that NAMA is the right way to go, while comparing Anglo Irish to Chernobyl. In predicting that "the Anglo story is going to continue", he rather understated the initial implication that the toxic effects of the contaminated bank would be felt for decades to come.

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