I must say I am at a loss for words when I read the BOI staffers’ complaints that they also lost trackers, like a satirical film almost. One of these 1,800 could be the one who sold me a svr in mid 2008 and explained that trackers and svr are both variables, always vary together although svr reflect the ecb base rate at discretion not immediately as trackers do contractually. Yeah, right. This loss of trackers by the BOI people only tells you that when before 2008 all products, fixed, trackers, svrs - moved together in a tight interval - nobody, whether customers, bankers, solicitors, paid any attention and all made commonsensical assumptions what contractual terms implied. The situation is so odd if I were not affected I would laugh. It resembles an economics experiment where the price of credit does not reflect the underlying risk and instead is randomly allocated between two groups, with contractual entitlements for life, and without. And since the banks will always overprice svrs to cover their losses, we will never return to the normal pricing of risk or when all rates co-vary together again in a tight interval, for the next 15 years at least when the banks’ trackers books shrink. And who says the hard work pays and luck has nothing to do with success in life. Nah. Paraphrasing Sarenco, to be blunt, "contractual right" defeats common sense every time.