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.
I agree with the general trust of your argument that politicians are using the mortgage debt crisis to garner votes. But to describe someone who wrote a letter to the IT outlining the plight of his family as an “idiot” is simply wrong.
Not everyone is versed in the ways of the financial world like some of the posters here and people generally get pretty intimidated when dealing with banks and therefore will repay loans to the detriment of all else in family life. Calling him an idiot is the condescending attitude I tried to highlight in another thread and it is wrong. Exaggerating his plight by saying his children “ate cereal boxes” when he said no such thing reflects more on you than it does on him.
When I heard the story from Kerry I didn't think the man was stupid, I thought that's a clear case of neglect of parental duties to one's children. I've read the story and it certainly says the child ate part of a cereal box, the inference being the child was starving in a situation where the parents had the money to buy food but instead chose to repay a mortgage.
The story does not ring true in other respects, a married man with a dependant wife and kids does not receive only 188 Euro a week? Unless there is something else that reduces it to that amount. That would be another asset or savings
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