Oireachtas Joint and Select Committees
Wednesday, 19 December 2012
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB
4:50 pm
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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To my mind, surely there is no moral hazard in giving them relief. It is in the public interest both in terms of the economy and for them as members of the public, that they get relief which should require debt write-down. The moral hazard for most of the public is that the banks who caused the crisis are the ones who get bailed out across the board. All the banks get bailed out but the mortgage holders, who are the innocent victims, do not.