Drumm keeps expensive lifestyle despite claiming bankruptcy

02/04/11 1,966 Views 19 Comments

Former Anglo chief executive David Drumm.

IT HAS BEEN revealed that after former Anglo chief David Drumm filed for bankruptcy last year he continued to pay himself $9,000 each month – as well as checking into expensive New York hotels and giving his brother a loan of €6,000.

A bankruptcy hearing in Boston heard that Drumm spent over $72,000 on a new Range Rover in 2010, and began the transfer of earnings and property and earnings worth $1.6 million to his wife in September 2008, reports the Irish Times.

Drumm also stayed in the Plaza hotel at $939 per night and at the Pierre Hotel at a cost of $595 per night while in New York on business, reports the Irish Independent.

Drumm moved to the United States before Anglo Irish Bank was nationalised and has refused garda requests to return to Ireland for questioning regarding his part in the failure of the bank.

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Comments (19 Comments)

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Brian O'Donnell 02/04/11 #

Report this comment 0 87

Have him brought back to Ireland in cuffs!!!!

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- Dario Fo 03/04/11 #
  
  Report this comment 9 6
  
  No send him to Guantanamo. He is a terrorist..
Moaning Gunderson 02/04/11 #

Report this comment 3 21

If only we could. We can’t “perp walk” Drumm or the other shower because there’s no legislation to cover it. Bah!

Reply
Unitedpeople Ireland 02/04/11 #

Report this comment 1 36

He is totally taking the pee out of the Irish people, the courts and the government!

Reply
Aodhan O Cuana 02/04/11 #

Report this comment 64 21

Nothing wrong with Drumm! Irish people voted FF/PD govn and walked into banks or went to mortgage brokers and fiddled their income to get a loan! I hear the same people criticism Drumm now! Bottom line Celtic cubs wanted a lifestyle of credit! Drumm facilitated this and the Celtic cubs lapped it up

Reply
- Ed Fallon 02/04/11 #
  
  Report this comment 1 4
  
  Trouble is David Drumm obviously doesn’t want to tighten his belt after the crash and he wants just to lie low. Keep shining the light on him. http://www.daviddrumm.com/ says “This website is unavailable. Please try later”. Maybe this story is sourced in the US and 5 to 8 hrs behind us, which begs the question – is it an April fool’s joke?
- Brian Connolly 03/04/11 #
  
  Report this comment 1 7
  
  So Aodhan are you trying to say that justifies what he what did was ok? The man is a coward and has some neck to continue a lifestyle like he is abroad. Has he no shame?
  
  And by the by why is it that FF/PD’s are mentioned in this? The gov should have been regulating more rigidly but Ultimately it is the bankers who are responsible for our flailing economy. Is it Iceland’s, Portugal’s and Spain’s Gov’s faults too (greece it was more government greed)? No! It was the banks, and why, because they really do control a country’s Sovereignty through massive nominal bonds issues that the people can do little to prevent from taking place. Burn the bankers first then we can moan about the politics later.
- MK 03/04/11 #
  
  Report this comment 0 3
  
  Maybe people trusted the various regulators and the media- both of which had a responsibility to identify the craziness and inform the plebs!! I think people are now well informed – thanks to the press, the paycuts, lost jobs, increasing taxes….- and now are not spending foolishly!!
Denise Byrne 02/04/11 #

Report this comment 1 19

Now, if there ever was one, here is a case for extraordinary rendition!

Reply
Gis Bayertz 02/04/11 #

Report this comment 6 21

Can we, just for this bandit, bring back the practice of quartering?

Reply
Stephen Cahill 02/04/11 #

Report this comment 0 14

Where was the financial regulator?? Out to lunch??

Reply
- Jimk Kelly 06/04/11 #
  
  Report this comment 0 0
  
  Maybe he was with the bankers in the Galway tent…..
Raynond Cahill 03/04/11 #

Report this comment 0 7

I had a dream last nite,I had won the euro lotto 146eu million.I started up
a web site called Pay Back is a Bitch, People could call to report Rat Bags
from around the globe,they were then taken care of appropriately,
Unfortunately I WOKE up just as Messers Drumm,Fitzy,Fingers,were
about to be dealt with.Recessions can have strange effects on ones mind

Reply
Brian O' Brien 03/04/11 #

Report this comment 0 6

Drumm epitomises the Arrogance and greed that these people had in high and well paid positions in their jobs, they recklessly lent and then some, the bonus culture within made sure you got what you wanted, ie more money, every day you got literature about extending your credit card limits, new car loans, was it any wonder how some people got sucked in by it all. The banks are there to do a job in performing proper responsible banking hense the reason they were paid handsome salaries, but the guy who’s getting away Scott free out of all this is our friend the former financial regulator, how can he sleep at night.

Reply
Mairtin Cathbhar 03/04/11 #

Report this comment 1 5

I would welcome him back to Ireland, and parade him around the country as an example of how low regulation fails by letting inept fools into positions of influence. The Irish authorities .. Haven’t gone away you know.

Reply
smithan_irl 03/04/11 #

Report this comment 0 4

Whatever you say about FitzPatrick, you have to respect the man for at least having the balls to stick around and face the music. This shameless, cowardly bastard is hiding behind the law thousands of miles away

Reply
- Raynond Cahill 04/04/11 #
  
  Report this comment 0 0
  
  I Believe it was in the process by certain family members said no.
David Lawlor 04/04/11 #

Report this comment 0 1

Have to agree with Brian here, a few years ago I went for a pint with my then 63 year old uncle, he showed me 2 letters – the first from MBNA preapproving him for a €3000 limit credit card and the other from Bank of Ireland also preapproving him for a loan of €10000! both received in the space of a week!!

Reply
Joe Harte 04/04/11 #

Report this comment 0 1

I will never forget this weasel hiding in his (our?) house with the lights off when RTE came calling, and then demanding respect when he was spotted through the letterbox.

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Drumm keeps expensive lifestyle despite claiming bankruptcy