Oireachtas Joint and Select Committees

Wednesday, 5 November 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Banking Sector: Bank of Ireland

3:45 pm

Photo of Peter MathewsPeter Mathews (Dublin South, Independent) | Oireachtas source

This is totally unfair, and the Chairman knows very well why.

Of those mortgage loans, if there are 160,000 clients, call it 150,000, there are about 3 and a half people per loan affected who are living in those houses. That is half a million people. There have been a lot of suicides, deaths and illnesses because of the unreasonable stress. Income, or the capacity to repay, is the primary thing the bank considers when it considers loans. If Mr. Boucher lost his job tomorrow he would have no income. He should think about that and about the people who have no incomes because they had to take reductions, lost their jobs or have had to emigrate.

There has to be far more accountability, as the top of that pyramid in Mr. Boucher's presentation says. I am a bit passionate about this, but it is very justifiable passion. In this world, we all have to do what is right with our lives, not just what the algebra says can be done. Mr. Boucher said at one stage that we have to try harder. Who is "we"? Why is there only one lady on the court of directors? Ladies represent at least half the households of the 150,000 customers.

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