Oireachtas Joint and Select Committees

Thursday, 22 March 2018

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB

9:30 am

Photo of Paul MurphyPaul Murphy (Dublin South West, Solidarity) | Oireachtas source

They are the facts but the consequence does not have to be that Permanent TSB sells these people's mortgages or the mortgages of buy-to-let properties where there are tenants to vulture funds. Those funds will simply be after the quickest buck possible, with no concern whatsoever for the interests of these people. One does not follow from the other. Yes, the bank has to reduce its non-performing loans. It is the witnesses who make the logical leap to say that they have no choice but to pursue this strategy for the sale of Project Glas.

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