Oireachtas Joint and Select Committees
Wednesday, 9 April 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB
2:45 pm
Peter Mathews (Dublin South, Independent) | Oireachtas source
I hope I will be forgiven for my frustration, but it is distressing when people and families of good faith, whose incomes have been smashed and reduced as a result of the Nagasaki type disaster I have described, are hit on both fronts. They are hit on the asset price collapse and the negative equity, which clouds the issue. AIB Bank is accountable and responsible for that 72% collapse in price. In some cases that will coincide with negative equity, but in others the negative equity will be different. It could be greater or less. However, in the context of a fair business transaction and a reasonable exposition of where we are now, that is the truth of it.
If we are to get to the right, true and fair results in each case, we must look at each case as a bespoke case. After an event like that in Nagasaki, not everyone is sprayed with an anti-radioactive ingredient. Doctors and nurses must examine each case. This is what AIB is doing with its staff. I will ask a question now before I continue. How many staff has AIB involved in this work?
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