Mary Lou McDonald (Dublin Central, Sinn Fein) | Oireachtas source

Permanent TSB may not yet have sold on any mortgages but we know it is preparing to sell 20,000 of them to vulture funds. Permanent TSB is a State-owned bank and the Minister for Finance is the majority shareholder. Let us not make any bones about it; these vulture funds are prepared to pick the bones of mortgage holders as and when it suits them. Their interest in the acquisition of these assets is purely short term and focused on turning a quick buck. They are unregulated, they not governed by the Central Bank and they accountable to the Oireachtas. I do not know how the Taoiseach would feel if his home was turned over to a financial firm that does not have to abide by any rules. I know I would feel alone, afraid, abandoned and probably depressed. Allowing vulture funds to operate so recklessly is clearly Government policy, and I include Fianna Fáil in that context. We only have to look to the evidence. In 2015, the Government had a chance to ensure that vulnerable mortgage holders would have some level of protection. However, Fine Gael and the Labour Party refused to support Sinn Féin in making such vulture funds fully regulated. Fianna Fáil also failed to support that proposal. In fact, its Deputies did not even bother showing up for the vote.

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