Results 7,821-7,840 of 26,465 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: I must ask the Senator to conclude. To whom is he addressing his questions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: We will write to the Central Bank.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: I will return to Mr. Hall's opening statement. He said that this situation could lead to 17,000 families being evicted unless an alternative is arranged. In discussing this with the banks, I asked them about iCare, how they are interacting with it, whether it is a solution and are they co-operating. Will Mr. Hall give us an idea of the success -or otherwise - of iCare? Will he also...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: What else needs to be done? I ask the question because Mr. Hall says 17,000 families may be evicted, and that the number is growing. I read in an article in one newspaper last weekend that €15 billion would be the total value of mortgages being sold to vulture funds by the banks because of the action of ACC Loan Management and others. What will save these families from repossession?...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: Has Mr. Hall made that clear to the Department of Housing, Planning and Local Government and the Department of Finance? Has he engaged with officials from those two Departments?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: Why?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: Does the 31,500 households Mr. Hall mentioned in his opening statement that cannot pay include the 17,000 households he mentioned at the end?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: What is stopping the banks from drilling down into these loans?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: They tell us they have hundreds of staff in each of the banks working on this yet none of the banks offers debt-for-equity solutions, which Mr. Hall mentioned.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: Wait a second, Mr. Burgess.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: There is a phone somewhere on the desk and it is interfering with the recording system.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: Does Mr. Burgess want to come in?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: Essentially, the banks do not drill down hard enough and strongly enough to find a resolution. They do not fully deal with the range of possibilities of resolution and options that are available.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: With 130,000 people on housing lists throughout the country, this would add a further 17,000. That would create social chaos. That is the social cost.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: Yes, but there is a churn.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: The point is that it is social chaos for 17,000 families.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: We should sort it before it happens.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: Which comes to the question for Mr. Burgess. This 10,000 figure is actually his analysis. It is not written down somewhere it can be verified.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)
John McGuinness: I want to challenge Mr. Burgess on the example he gave us this morning, which is not a typical example. I too go down to the courts. What I see when I go down to the registered courts is a stack of legal individuals on one side, mainly with the banks, and then some lay litigant or lowly solicitor on the other side trying to do battle. In an awful lot of those cases, they tell me, and I...