Oireachtas Joint and Select Committees

Wednesday, 18 September 2024

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

General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance

1:30 pm

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael) | Oireachtas source

A new aggression has been adopted by what I call the enforcers in the funds or agencies right now. They apparently feel the time has come for them to show real resolution in their efforts to ensure the borrower coughs up, sells their home, gets out on the road and becomes homeless or whatever the case may be. The level of aggression that has taken over in recent months is unacceptable. People who are homeowners, borrowers, mortgage borrowers and small business people are being put under such pressure as to make it almost unbearable. My answer to that question is simply this. The people who borrowed did so on the basis of the financial advice available to them from the lending institutions. They can change whatever circumstances they like in the aftermath when it suits them, but the borrowers are the people who are being punished most, whether they are small, medium or large borrowers. The seam still remains.

In the event of a similar situation arising again, what means can be used for those who err most and commit the greatest offences, bringing about an unacceptable situation, to ensure the fund managers or vulture funds pay a bit of the hurt themselves?

Comments

No comments

Log in or join to post a public comment.