Yes, he was greedy, and ambitious and a risk taker but successful business people generally are. He wouldn't have got to where he was without those characteristics.
Badly run bank is a vast understatement to be honest. This is an institution which has single handedly damaged the entire nation's livings standards, every man, woman and child, well into the future.
I think it's a somewhat fair comment on his behalf, if you recall the Celtic Tiger as it happened, and not in hindsight.
Most of his other businesses seem to have been well run and have been bought up.
Quinn Car Insurance was bought up by Liberty Insurance
Quinn Healthcare was bought up by Elips Insurance.
Anglo were the modern day Irish equivalent of Enron. No different than Bernie Madoff in hindsight. Loads of people got burned by Enron and they passed Sarbanes-Oxley.
You wouldn't buy into Enron if you knew it was a sham.
[sarcam] Luckily we had a regulator to ensure another Enron would never happen [/sarcasm]
Even when Morgan Kelly was on Prime Time warning of impending doom, the financial regulator was still insisting that everything was fine
Open to correction on this, but I understand he had Anglo investigated before investing his money
, and received very positive feedback.
He certainly did screw up, but there is no denying the Irish government/Financial regulator are equally to blame... not that anyone is going to be punished for it, lol...
Perhaps his anger is misplaced - it should be aimed at the Irish government more than Anglo themselves.
there seems to be a whole array of stuff we are only finding out about now - e.g. after
the sh1t had hit the fan, he was warned not to dump his shares for fear he would de-stabilize
the bank. It's been reported that David Drumm was behind this, but perhaps Cowen or the regulator were too? Remains to be seen I guess.