LAST week Brian Lenihan was browsing through the annual report of Anglo Irish Banks. Not a rivetting way for a Minister for Finance to spend his spare time.
Lenihan is not a natural number cruncher , but according to witnesses, he scratched his head. Observers say that the minister called one of the eggheads in Finance.
How in the name of God, he asked, did the Anglo directors clock up such loans to themselves? Anglo revealed a far bigger concentration of loans to board members than other banks. A good spot by the minister.
The ball started to roll. The hapless Financial Regulator was back on the carpet.
We know the rest. Chairman Sean FitzPatrick — the €87m loan man — was gone in 24 hours. David Drumm followed immediately.
Only the wretched Regulator failed to put its hands up. Instead, it started another investigation! A small problem for the investigators: the investigator is the chief suspect.