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Financial Services Latest News: Irish Banker Apologizes for Taped Comments

Wochit 0:58 mins

David Drumm, An Irish banker taped saying he would demand cash from authorities to keep operating and making light of a 2008 bailout, prompting criticism around Europe, apologized for his comments in an interview. saying there was "no excuse for the terrible language or the frivolous tone". German Finance Minister Wolfgang Schaeuble slammed Irish bankers caught on tape joking about a bailout, calling them "aloof super humans" worthy of contempt. Though today's lower yields provide less of a cushion, bonds still remain the best, if imperfect, foil to stocks. Financial advisers have been fielding calls from shaken investors in recent weeks, particularly retirees, who are nervous that a bond market crash is on the horizon.

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