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Senior Anglo staff thought society was doomed

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The banking inquiry has also heard that customers were ushered into offices during a “full blown run” on the bank so as not to make the situation worse by having queues outside the bank.

Peter Fitzgerald was responsible for managing deposits at Anglo.

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He told the inquiry there was a full blown run in mid September 2008 after the collapse of Lehman Brothers as customers withdrew their deposits.

Mr Fitzgerald said that in the days before the bank was guaranteed senior staff were of the opinion the game was up and the bank would collapse.

This he said was because they had no answer to the constant outflow of customer and wholesale deposits.

But he insisted that on the night of the guarantee Anglo was solvent and it was a liquidity problem.

Questions to him about the Anglo Tapes or Seán Quinn's stake in the bank were legally blocked, while he also refused to disclose his salary or bonus.

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