Bank CEO, chairman resign over loan disclosure

From Bloomberg: Anglo Irish Bank Corp. CEO David Drumm and Chairman Sean Fitzpatrick quit for failing to fully disclose a $124 million transfer from the bank. “I was just strapped for cash,” Fitzpatrick said in his statement. “You know how it goes, holiday season and all. I had to buy my wife a vacuum cleaner. I was going to pay it all back, honestly.” A regulatory board has initiated an investigation into Anglo Irish loan practices. CEO Drumm stated in his own statement, “I don’t really see what all the fuss is about. It’s not like I haven’t done the same thing many times in the past. People need to calm the (expletive) down. Fitzpatrick did nothing illegal or immoral to the best of my knowledge. I mean, when folks give their money to a bank, the bank is free to do whatever the heck they want with it. Right?”