Community Corner

Wellesley and the 'Anglo Tapes'

Tapes documenting the fall of Anglo Irish Bank feature one Wellesley resident.


A scandal which brought Ireland's third largest bank to its knees in 2008 has recently resurfaced, with the release of some tapes of its executives--one of whom has a Wellesley address. 

The former head of Anglo Irish Bank, David Drumm moved to Wellesley about four years ago. The Irish Independent reports that his neighbors say he has been known to "go missing when the heat is on." 

The heat is on currently because of the release of the "Anglo Tapes," a series of recorded conversations between executives working at Anglo Irish Bank discussing the state of the banks and their eventual collapse.

In one excerpt from the tapes, Drumm tells a colleague he would like to punch Ireland's Minister of Finance at the time, Brian Lenihan. The two then discuss how Lenihan's office affects public opinion. 

Anglo and Allied Irish Bank were both recapitalized by the government during the 2008 crisis, and the Daily Mirror estimates they have cost taxpayers about €50billion to bail out. These tapes document behind-the-scenes conversations at Anglo during that time. 

Listen to excerpts from the Anglo Tapes at the Irish Independent website.

Prior to being tapped for a position establishing Anglo's US presence by then-chairman Sean FitzPatrick, in 1998, he lived in the Boston area--a home in Sudbury. He returned to Ireland five years later, and was named CEO in 2005.

When he moved back to Mass. in 2009, the Independent says he called it a move to escape what he called "the blame culture." He refuses to go back to Ireland, lest he be arrested by fraud officers. 

Irish President Michael Higgins said the taped conversations of Irish bankers do not represent "the voice of the people."

Drumm did apologize for his use of foul language on the tapes

See the full story on the Irish Independent webiste


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