Mr Bowe a former executive suggests that the Anglo Irish management team knew that €7billion would be insufficient to save the bank,“Yeah, and that number is seven, but the reality is that actually we need more than that,” he then adds “But you know the strategy here is you pull them in, you get them to write a big cheque and they have to keep, they have to support their money, you know.”
Here is the BBC link
Well I think the tape reveals just how easily politicians have been hoodwinked by the banks. When a bank needs taxpayers support it is clear that politicians need to be much tougher, taking a significant equity stake and then sacking the chief execs who through poor management got the bank into trouble.