BUSTED: Bankers Caught On Tape, Joking About Bailout, And How They’d Never Pay It Back

Bowe:  ”So we went down … and we basically said. In Central, yeah. And I mean, to cut a long story short we sort of said. ‘Look, what we need is seven billion euros…and we’re going to give you and we’re going to give you, what we’re going to give you is our loan collateral so we’re not giving you ECB, we’re giving you the loan clause.
“We gave him a term sheet and we put a pro not facility together and we said that’s what we need. And that kind of sobered up everybody pretty quickly, you know.”
Fitzgerald: ”Yeah.”
Fitzgerald: ”And is that €7 billion a term?”
Bowe: ”This is €7 billion bridging.”
Fitzgerald: ”Yeah.”
Bowe: “So … so it is bridged until we can pay you back … which is never.” (Both laugh)
Read more: http://www.businessinsider.com/anglo-irish-bank-tapes-2013-6#ixzz2XE2kAalB
INTRO: BUSTED: Bankers Caught On Tape, Joking About Bailout, And How They’d Never Pay It Back