Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I was going to say that it is not worth the paper it is written on. It appears, however, that it will not be written on any piece of paper so I am not sure what value that puts on it. Mr. Wallace has been put in the firing line here today, but this is as much a political issue as it is one for the special liquidators. I will take up those issues with Ms Nolan as she is representing the Minister who, unfortunately, cannot attend this meeting.

The bottom line is that thousands of IBRC mortgage holders now feel they will be at the mercy of an unregulated, unsympathetic, potentially foreign-owned fund which is out to maximise the profit it can make from the mortgages those people took out in good faith from an Irish financial institution, regulated by the Irish Central Bank. They will find themselves completely exposed, isolated and vulnerable to whatever that particular fund decides to do with their mortgages. That is where those people find themselves as a result of the way this process has been handled. Does Mr. Wallace have any comment on that?