Conor Lenihan: "AIB, Minister, and Department of Finance Deceived the Public by Billions over Loans Exposure"
In today's Daily Mail there is an interview with Conor Lenihan, in which he says he acted extensively for his brother in meeting with banks representatives during the crisis.
He says, amongst other things ""Some people in the AIB were being deliberately misleading...wanted to create a public deception about the true status of its exposure in terms of property lending. etc. ..I think there were a number of banks you could mention. They were literally out by billions. The minster and key department officials were aware of it, as was the Central Bank. Everybody on the State side knew they were lying in denial or just way out in their estimates."
Lenihan also said that some people at bank executive and board level tried being honest with Government.
AIB so far has received more than €20 billion in public funds and is in a quasi-nationalised state.
Last year it lost a billion, and in the first six months of this year it lost €758 million.
It will be stress tested in the new year as part of the EU ECB stress testing process. It is still carrying an unknown quantity of bad property lending, mortgage and other bad debt.
“ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
— Jean-Paul Sartre