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Tue 04 Apr 2010Taoiseach rejects INBS claims
Taoiseach Brian Cowen has said he was “certainly not” made aware of bad financial practices by Irish Nationwide Building Society while he was minister for finance.
The building society yesterday reported a loss of €2.5 billion for 2009 after writing off nearly €2.8 billion in loans – almost a quarter of its €10.5 billion loan book – due to high-risk lending to property developers and land speculators under former chief executive Michael Fingleton.
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