Dáil debates
Tuesday, 17 July 2012
Economic Management Council
4:00 pm
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
There was widespread disappointment at the Personal Insolvency Bill. It failed to do what should have been done, which is to provide for the writing down of unsustainable mortgage debt left on the backs of people through no fault of their own. It happened because of the pumping up of the property bubble by the banks, the developers and their friends, Fianna Fáil, in government at the time. People have been left with this disastrous situation, which is no fault of their own. They hoped there would be real relief in writing down the debt and recognising it was a debt artificially created by the greedy and imposed on the back of people who want nothing more than to put a roof over their heads. Instead, there is an arrangement-----
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