Rose Conway Walsh (Sinn Fein) | Oireachtas source

The witnesses are missing the point I made about measuring the loans being bundled, sold on, and then being sold on again. The funds get enormous discounts from the banks in the first place and the consumer is in the middle of all of this. The loan is sold to one vulture fund that makes a certain amount and the loan is then sold on again and the new owner makes a certain amount. Lots of money is being made on the back of the original mortgage holder. On a macro-economic level I am also concerned about the impact this will have with regard to the loans being sold on.