Ok, I am putting this in LOS because I am about to rant. I avoided discussing the topic in other threads because there is so much rubbish been written. However, I draw the line when politicians come out in the media with comments that prove they are nothing more than vote chasing morans.
Our minister of finance comes out and says that the banks were given capital to deal with mortgage writedowns. Sorry minister but there are thousands of mortgage holders with banks like Ulster Bank, Bank of Scotland and various other lenders including sub-prime who have not received one cent from the Irish taxpayer. What are they supposed to do?
Peter Matthews comes out saying banks need to deal with mortgage holders on a case by case basis. What does he think is happening? We have some idiot writing into the Irish Times about how they allow their child eat cereal boxes rather than pick up the phone and talk to the bank and people rush to blame the banks.
The whole idea of mortgage debt needs to be looked at but I am sick and tired of publicity hungry politicians, economists and commentators pretending there is some simple answer.
Our minister of finance comes out and says that the banks were given capital to deal with mortgage writedowns. Sorry minister but there are thousands of mortgage holders with banks like Ulster Bank, Bank of Scotland and various other lenders including sub-prime who have not received one cent from the Irish taxpayer. What are they supposed to do?
Peter Matthews comes out saying banks need to deal with mortgage holders on a case by case basis. What does he think is happening? We have some idiot writing into the Irish Times about how they allow their child eat cereal boxes rather than pick up the phone and talk to the bank and people rush to blame the banks.
The whole idea of mortgage debt needs to be looked at but I am sick and tired of publicity hungry politicians, economists and commentators pretending there is some simple answer.