Mick Wallace (Wexford, Independent) | Oireachtas source

This is a seriously Southern problem. Cerberus went to some of the major developer players. Before it bought the portfolio, a group of individuals went around to the big developers and asked them whether they would buy their loans back for 50p in the pound. What happened? They jumped at it. However, they had to pay a fixer's fee. The £7 million in the Isle of Man that we have been talking about was only for openers. A total of £45 million has been paid to fixers.

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