ANGLO IRISH BANK

Anglo Irish Bank lent Sean Fitzpatrick’s son David $50,000 against his New York apartment after the bank had been bailed out by the State, reported The Sunday Independent.

The paper also reports that Anglo afforded David Fitzpatrick a €931,387 line of credit as of May last year.

The bank has already been advanced €4 billion in State funds and is set to receive another €8 billion for its recapitalisation.

There are more angry Anglo revelations in the Sunday Times, which alleges that Anglo advanced Sean Quinn €370 million in just five days in an orgy of lending in the wake of the Bear Stearns bank crisis.

Quinn’s borrowings were to fund his margin calls relating to his Contract for difference (CFD) investments in Anglo shares.