EXCLUSIVE: Former Anglo chief David Drumm apologizes, says inquiry needed on bank guarantee
Tells IrishCentral he wants similar tapes from all Irish banks released
Read More: David Drumm photo gallery
"I knew they were bad, bad, bad," he told IrishCentral on Friday.
He said he was aware such bank conversations were recorded and he especially wants to hear the similar conversations that were going on at that intense time between the other banks and the Central Bank of Ireland and the Financial Regulator.
It was a panicked time in the fall of 2008 as he relates it, when the entire foundation of the Irish economy seemed on the verge of crumbling. Threats and bluster and frustration were everywhere.
He sees a silver lining from his own perspective, that the focus will shift from the tapes to the events surrounding the disastrous government guarantee -- which he is adamant must be explained if people are to learn the whole truth about that period.
He sees the selective leaking of the tapes and the aftermath as a clear attempt to link Anglo to the creation of that guarantee. But he insists that the Anglo liquidity issue discussed on the tapes, and the guarantee decision made when Anglo was not present, are two very separate issues.
He is back in the limelight after a relatively quiet period and accepts his role as the villain but believes there is a compelling alternative narrative where everyone involved in the disastrous sequence of events at the time will receive the same scrutiny as he and his bank already have. That, he says, is what keeps him going.
(The Anglo Tapes were released last week by the Irish Independent , showing conversations between Anglo bankers including then CEO David Drumm discussing the massive banking crisis in September 2008 as it reached its zenith and Anglo was trying to stay afloat)
Do you regret the language used on the tapes?
I accept that the tone and language used in the tapes is inappropriate and I fully understand why the excerpts published have offended many people. Listening to a recording made almost five years ago at a highly stressful and volatile uncertain time is both embarrassing and a shocking reminder of how much pressure my colleagues and I were under at that time.
However, there is no excuse for the terrible language or the frivolous tone and I sincerely regret the offence it has caused. I cannot change this now but I can apologise to those who had to listen to it and who were understandably so offended by it.
But don't the tapes accurately reflect what was going on within Anglo at the time?