Oireachtas Joint and Select Committees
Thursday, 30 April 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Joe Higgins (Dublin West, Socialist Party) | Oireachtas source
Yes, it's sometimes referred to as a vulture fund, buying up properties, including those that the taxpayers bailed out. Can I refer to an article in herald.iein 2011, and I'll just quote from the article in relation to that, and ask you if you agree or disagree? It refers to Apollo and to Mr. Goggin buying distressed property loans from the Irish banks at a hefty discount, and then selling them on at a profit, and then:
Is that fair comment? Do you ... or would you vehemently disagree with that?
Having presided over the creation of a banking crisis with his risky lending policies at Bank of Ireland, Mr. Goggin now hopes to profit from the mess by buying those loans on the cheap. Has this man no shame? Does he not realise the outrage felt by Irish taxpayers, who were raped and pillaged to pay for the bank's blunders, towards the former bank bosses?
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