Dáil debates

Thursday, 8 December 2011

 

Financial Services Regulation

9:00 pm

Photo of Mattie McGrathMattie McGrath (Tipperary South, Independent)

I have actual evidence from the family. It is not hearsay. The same is happening in other parts of the country, including in the Minister of State's area, of which I have only anecdotal evidence.

A code of conduct does not matter to the people concerned. One of the machines they took was stolen because Bank of Ireland Finance had no payments for it and no knowledge of it. It was a Massey Ferguson 6490, registration number 06 TS 2758. It was taken away but driven back an hour later when it was discovered, four miles away, that it was not the right tractor. They also stole a hedge-cutter. Breaking and entering always amounted to stealing. They could have told the family in advance and come in the middle of the day. They took away a hedge-cutter valued at €20,000, on which the payments were with Woodchester Finance. The Minister of State advised people to shop around for finance. Woodchester Finance has informed the family that Bank of Ireland has passed the machinery over to it and that it is keeping it. The family has employees and farmers are waiting to have work done, but they cannot carry it out. Finance companies are all in a cartel. The public is paying for banks and bailing them out. The country has been brought to its knees, but the State protects and allows them to engage in this activity.

We need legislation immediately, as the public will not stand for this. It has been happening in many areas to builders and developers, and it may be that they had to go. However, the people about whom I am talking are contractors of good standing. They have been in business for 40 years and are decent people.

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