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"I knew they were bad, bad, bad"

Business quote of the day.

New Statesman
Photograph: Getty Images

"I knew they were bad, bad, bad"
 
David Drumm, former boss of Anglo Irish Bank, has spoken for the first time since recorded phone calls during the banks collapse, which eventually cost Irish taxpayers €30bn, were published.
 
The tapes, released to the Irish Independent last week, revealed senior executives at the bank singing the German national anthem as deposits were guaranteed from the EU, admitting that they plucked the €7bn bail out figure out of thin air and Drumm saying he would "probably punch" Finance Minister Brian Lenihan.