"You're lying to millions of people": how economist David McWilliams cornered the AIB chief executive live on the Late Late Show
On last Friday's Late Late Show on RTÉ One, two heavyweights came face to face: David McWilliams, economist, bestselling author and host of Europe's most popular economics podcast, and Colin Hunt, chief executive of AIB and president of Ibec. What could possibly put them at odds? The topic seemed straightforward enough — "How to protect your savings in a difficult 2026" — but it was precisely this that triggered an explosive confrontation in front of millions of viewers, live on air. A confrontation so fierce that Hunt tore off his microphone and walked out of the studio, leaving host Patrick Kielty visibly shaken.
What sparked the confrontation? Just three days before the show, on February 14th, McWilliams published a devastating column in the Irish Times titled "The Irish banking system is not working – and that rarely ends well". The article exposed shocking statistics about Ireland's banking sector that bankers have been desperately trying to keep quiet.
For David McWilliams, money isn't just a subject for discussion — it's his life's mission. His podcast isn't light entertainment. He was the economist who warned Ireland about the banks before the 2008 crash — and was ignored. He watched ordinary Irish families lose their homes, their jobs, and their futures while the State handed €64 billion of taxpayers' money to the very institutions that caused the crisis. He's been fighting for the financial rights of ordinary people ever since.
It's no surprise, then, that Hunt's assertion — "a well-managed credit facility allows you to live in comfort" — made McWilliams erupt. And not just with anger: he gave Hunt a response that was hard to refute. The answer, he said, isn't taking on more debt — it's making your money work for you by creating new income streams. And to do that, you don't need to work yourself to the bone or hire an expensive financial adviser.
That is the economist's thesis, and there is a great deal more to tell.
Confrontation live on air: images from the broadcast
Host of the Late Late Show, Patrick Kielty: "Tonight we're tackling a topic that affects every single person in Ireland: how to protect and grow your savings in this difficult 2026. In the studio we have two exceptional guests: David McWilliams, economist, author and broadcaster, and Colin Hunt, chief executive of AIB and president of Ibec."
Colin Hunt: "It's a pleasure to discuss how we can help Irish people maintain financial stability. I believe that credit is a tool for development. To live comfortably — to buy a home, a car, to fund your children's education — you need access to lending. That's part of a healthy economy."
David McWilliams: "And that's exactly the problem. But here's what really infuriates me, Colin: just three days ago I published the figures in the Irish Times. AIB's loans-to-deposits ratio is 40%. FORTY PER CENT. That's the lowest in the Western world! For every €100 in deposits, you're only lending out €40. The rest just sits there. During the Celtic Tiger it was 160% — you were actively pumping money into the economy. Now? You're strangling it. Every week on my podcast I hear from Irish people who can't get a €50,000 loan for their small business while you're sitting on €150 billion! And those who did take loans from you? A year later they've lost control of their lives. You call it prudent banking. I call it economic sabotage."
Colin Hunt: "But without credit, development is impossible! Taking out a loan isn't a mistake — it's a strategy. Even the State operates on debt!"
David McWilliams: "Here's the difference, Mr Hunt: the State can manage its debts at preferential rates and can refinance. But ordinary citizens cannot. You tell people: 'Borrow at 4 or 5 per cent and you'll feel more secure.' But you don't tell them that with current inflation and your astronomical bank charges, they're actually losing money! People need to make their money work — not drown in debt!"
Patrick Kielty (interrupting): "David, those are strong accusations. Do you have evidence to back this up?"
David McWilliams (reaching for papers): "Evidence? Let me read you what I wrote three days ago in the Irish Times, Colin. These are YOUR bank's own numbers."
McWilliams (reading from his article): "'Rather than being an instrument for the circulation of credit throughout the economy, the banks have become glorified safe deposit boxes where the savings are stuck. Banks are now making their money by placing your deposits at the European Central Bank where they accrue interest at 2 per cent while they pay out less interest than that to the Irish saver, pocketing the difference.'"
The camera showed Colin Hunt's face going pale. His jaw tightened.
David McWilliams (continuing): "And here's the part that really gets me, Colin. Let me quote myself again: 'What is the Central Bank of Ireland doing about this? The Central Bank is supposed to run monetary policy in the economy — and monetary policy means the amount of money circulating in the economy through the banking system. Have you heard the Central Bank commenting at all on the collapse of credit in the economy?'"
Colin Hunt stood up abruptly. His chair scraped loudly against the floor.
Colin Hunt (voice shaking): "This... this is completely out of line! You're taking economic data out of context and creating panic!"
David McWilliams: "Out of context? Colin, these are YOUR bank's official numbers! The loan-to-deposit ratio is PUBLIC DATA. The Central Bank reports it quarterly. I'm not making this up — I'm just the only one with the guts to SAY IT OUT LOUD!"
Colin Hunt: "That's completely absurd. You don't even understand the most basic economic rules. Not everyone can earn — there are always losers."
David McWilliams: "Is that how you justify it? I know that's not true. I know Irish people who lost money for years, but then started earning — and far more than before. They cleared their debts, bought a car, a new home, and started their own businesses. What do you say to that, Mr Hunt?"
Colin Hunt: "I'd say that takes a great deal of time, a great deal of effort, and the help of a wealth adviser."
David McWilliams: "No. It doesn't. Not any more."
Patrick Kielty: "David, what do you mean?"
David McWilliams: "I'm talking about new financial technologies that Irish banks are deliberately hiding. Technologies that are literally revolutionising the financial markets. I've tested them myself, and the results are extraordinary."
Colin Hunt: "And what results would those be?"
David McWilliams:"Listen to my podcast, Mr Hunt. You'll find out."
Patrick Kielty: "It would still be interesting to hear what concrete alternatives you're offering, David."
David McWilliams: "All right, I'll tell you. I give people the opportunity to try investing. I guide them from start to finish and provide an initial capital base. And in this particular case, you don't need much — just €250 to get started."
Colin Hunt: "€250? That's a laughable amount to open an investment account!"
David McWilliams: "Exactly!"
Patrick Kielty: "David, you're dodging the question. Explain to us in as much detail as possible: what type of investment is this? Is it some form of specialised training?"
David McWilliams: "No, it's not training. It's an investment platform accessible to anyone who registers — not just my podcast listeners. In short, for the past two years I've been offering people the chance to test the digital investment platform Reserve Safegrove . It's neither a fund nor a bank — it's a system where artificial intelligence operates on the user's behalf. People invest a minimum of €250 and generate returns without loans or debt."
Colin Hunt (smiling): "And you're claiming this is safe? That a person with zero experience can simply invest money — and magically earn?"
David McWilliams: "It's not magic — it's technology. The artificial intelligence behind Reserve Safegrove analyses the markets, executes thousands of micro-transactions every day, and selects the most profitable positions. Let me give you some concrete figures: in 2024 Irish users earned over €1.2 billion, and the average user receives between €3,000 and €5,500 per month, without loans and without intermediaries."
Colin Hunt: "You're wrong! I'm convinced there is nothing more secure than the instruments offered by Irish banks."
David McWilliams: "That's because you run one of the biggest banks in the country! The bank that took €21 billion of taxpayers' money in the bailout! And I know perfectly well that you're hiding the truth and denying ordinary people access to these technologies — while I'm doing the exact opposite! I have dozens of examples like this. People take no risk — they simply let the technology work for them."
Colin Hunt: "But the market is always a risk!"
David McWilliams: "The risk is taking out a loan from you. Here, there's no debt. People can withdraw their money at any time. And do you know what's most interesting? I know that bankers like you use Reserve Safegrove — but you simply don't tell your customers."
At that point, Colin Hunt stood up, tore off his microphone and walked out of the studio. The camera captured the audience's reaction — thunderous applause.
Video call from Cork: the story of Seán O'Brien
We decided to check whether this platform is truly as effective as claimed, and whether it has genuinely helped people escape the debt trap.
After the broadcast, numerous stories from participants emerged. Among them, Seán O'Brien's story from Cork is perhaps the most striking. In 2023 he lost everything — his newly launched business collapsed, his job disappeared, and he found himself on the edge of financial ruin. But today his life has changed completely — thanks to Reserve Safegrove and McWilliams's guidance. We contacted Seán by video call.
Editorial team: "Good morning, Seán! Tell us: how did you come to the programme, and what happened afterwards?"
Seán O'Brien: "Hello! In 2023 my business went under and I found myself out of work, with debts of nearly €180,000. I'd only managed to pay off part of the loans, was still unemployed, and was desperate for money."
Editorial team: "Was that when you decided to try investing?"
Seán O'Brien: "Exactly. David's team suggested I test the Reserve Safegrove platform. They put together €250 for me — the minimum deposit required for registration. Then they walked me through filling in the form on the site, verifying my identity, and making the deposit. Verification is done through a phone call with a manager — it's mandatory, you can't skip it, otherwise you have to start the whole process again."
Editorial team: "What were your results? Are they enough to live on?"
Seán O'Brien: "More than enough. After three weeks I made my first withdrawal of €3,300, then regular income followed. Today I earn more than I ever did in my previous job. My debts have been fully paid off for some time, and I'm planning to relaunch my business — but this time without any bank loan."
What is Reserve Safegrove
Reserve Safegrove is an investment platform powered by artificial intelligence. The system's algorithm analyses financial markets and automatically executes trades on the user's behalf. The AI monitors the performance of stocks, currencies and commodities and carries out thousands of micro-transactions every day. The user needs no investment experience whatsoever — the system operates fully autonomously. Over 4,200 Irish users already use Reserve Safegrove and effortlessly earn between €3,000 and €5,500 per month.
Key facts about Reserve Safegrove:
- Minimum deposit: €250
- Returns: in 2024 Irish users of the platform earned a combined total of over €1.2 billion
- Withdrawals: within minutes, with no fees or delays
- Registration: via the form on the official website; a manager then contacts the user within hours, explains how the system works, and guides them through account activation
- Security: if the user does not answer the manager's call, registration must be restarted from scratch — this is a built-in safeguard against automated fraudulent registrations
The platform has established itself among Irish private investors because it allows people to start with a minimal amount, without relying on expensive intermediaries. David McWilliams has stressed that he receives no commissions and has no commercial relationship with the developers of Reserve Safegrove . "I discovered this platform and tested it as an alternative to loans, to help Irish people escape the debt trap. In the two years I've been recommending Reserve Safegrove , hundreds of people have not only freed themselves from debt but have also secured a regular, stable income."
Expert commentary
After the sensational programme broadcast on RTÉ One, the editorial team contacted independent experts for their analysis of the Reserve Safegrove platform and its impact on the Irish financial market.
Patrick Honohan
Former Governor, Central Bank of Ireland
I've observed the Irish economy for decades, and I'll say it openly: the big banks have had access to similar technologies for years. But they reserve them exclusively for their wealthiest clients. Why? Because a citizen who can generate income independently has no need to take out a loan at 4 or 5 per cent. As former Governor of the Central Bank, I can say: these technologies should not be the preserve of the wealthy alone.
Philip Lane
Chief Economist, European Central Bank; former Governor, Central Bank of Ireland
Do you know what struck me most? Irish citizens who spent their entire lives afraid of investing have suddenly begun generating regular income. Reserve Safegrove has eliminated the two greatest barriers: technical complexity and the psychological barrier. I've examined the data: the majority of users had never invested before. Today they receive supplementary income that in some cases exceeds their primary salary. This is an unprecedented redistribution.
The alternative is called Reserve Safegrove
The scandal broadcast live on RTÉ One has revealed an uncomfortable truth: banks don't fear competition — they fear the technology that makes them obsolete. David McWilliams is right: financial freedom isn't a credit card — it's a technology that lets you earn without going into debt. While the banks lose customers, ordinary Irish people have, for the first time, a genuine alternative.
Colin Hunt's walkout from the studio to thunderous applause has become a symbol of change. People no longer believe bankers in suits. They trust technology that works for them, not against them — and this is only the beginning of great changes in Ireland's financial sector.
THE QUESTION IS SIMPLE: Whose side are you on? The side of those who keep paying interest on mortgages and loans, or the side of those who have already started earning? We are publishing the official link to the platform in this article. The choice is yours.
Instructions for registering on the Reserve Safegrove investment platform
- Visit the official website via this link.
- Enter your contact details carefully.
- Wait for a call from an official representative to confirm your details.
- Make a minimum deposit of €250.
- The system will activate automatically once the transaction is confirmed.
- Registrations will be accepted until .
IMPORTANT: Your place in the programme will be reserved for 24 hours. If you are not contacted by an official representative within this period to confirm your participation, your place will be assigned to another candidate. Stay alert and confirm your participation in time to secure your spot.
