Paul Murphy (Dublin South West, Anti-Austerity Alliance) | Oireachtas source

More than €20 billion of public money was put in and AIB is now valued at €11.3 billion. That is a fire sale by anyone's standards and it is a rip-off of the public in order to hand the banks back into private ownership and the disaster that was and will be. A particular result is that in advance of the privatisation, which is under way, and presumably it will continue after that, is a more aggressive approach to non-performing loans. I raised the issue with the Minister last week at the finance committee and he said not to worry because there are no owner-occupiers involved. Since then it has come out in the media that owner-occupiers are involved. However, my point is that I also have concern for people who are not owner-occupiers. Those who let, as tenants in buy-to-let properties, could find themselves under real threat of eviction from vulture funds. The media have identified Cerberus as a likely buyer of Project Cyprus, the book of buy-to-let properties, and it has a disgusting record of looking after people.

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