Oireachtas Joint and Select Committees

Wednesday, 1 March 2023

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

Investment Funds: Discussion

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I agree completely. I sat in this same seat many years ago and made the point but the Central Bank told us that they have the exact same protections. They do not have the exact same protections because these vultures can increase interest rates. Banks can do so also, but banks have a longer-term interest in your mortgage, in your loan, in your student loan and in your farming loan. The vultures have an interest in profit and feeding off your carcass. That is basically it.

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