Oireachtas Joint and Select Committees
Thursday, 1 February 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Tracker Mortgages: Ulster Bank
9:00 am
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
What was the difference in approach here outside of the Central Bank? The committee has raised this issue and will continue to do so. Last year, I raised it with the Taoiseach and called on everyone to get to grips with this matter because it is the new tracker mortgage scandal.
These businesses had numerous employees and the potential to deliver for the economy. Some may have gone out of business but not at the scale at which they went. There was obviously an orchestrated default. A company was set up that benefited from this. We talk about vulture funds. The bank was the vulture to its own customers. It orchestrated defaults and picked from the carcases of those who lost.
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