Mr. Brendan Burgess:

I do not see why today's borrowers should be paying for the legacy cost. I do accept that if you lend 90% loan to value, it is a riskier loan than if you lend 60% loan to value. When lending that money, the bank does not know which of those will default so they must charge the 90% person more. I accept that but I do not see why a bank should charge Mr. Goor more money because it gave me a tracker ten years ago. If I went into Doheny & Nesbitt to ask for a pint of Guinness and was told it was €10, I would reply that it should not be €10. It would be as though I then was told they had served a lot of people that morning and as a mistake in the till meant they had charged everyone €1, they had to make up the profits. Then, the Central Bank would come along to say it had looked at Doheny & Nesbitt's accounts and as they were the same average profits as other banks on that stretch of the road, it would ask what I was complaining about.