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People put under financial terror have taken the step to take their own lives.
SENATOR DAVID NORRIS let rip on the banks, vulture funds and the government for allowing those in mortgage arrears languish in debt with no solution.
Under this Bill the National Housing Co-Operative would purchase the properties and the related debt from the various lending bodies – such as banks and vulture funds.
The capital required would be raised by the issue of a 20-year Secured Property Bond, secured by the properties acquired by co-op from existing lending agencies and underpinned by a guarantee issued by the European Investment Fund (EIF).
The sum required to purchase the portfolio of distressed home mortgage loans is estimated at €5 billion.
Norris explained that it would allow people remain in their homes and give them the opportunity to own their homes through writing new mortgage contracts over maximum of 30 years.
This Bill is particularly timely, due to AIB unloading their shares, which Norris said will “create a potential avalanche” in homelessness.
Giving an emotional contribution in the Seanad, Norris questioned how vulture funds were even allowed into the country.
“I find it astonishing that an Irish Republic stand over evictions,” he said, adding that vulture funds were invited in to pick ”up the slack” for “vulgar profiteering”.
He went on to say he respected the former Finance Minister Michael Noonan, but added that he could not understand his thinking on this issue.
It’s on the Dáil record that officials in the Department of Finance met with private equity vulture firms 65 times in 2013 and 2014, with Noonan attending eight of those meetings.
“I don’t understand how the bloody vulture funds got into his country in the first place… how anyone can say they are good idea, because they cleaned up corpses – how could anyone make such a gaf,” he asked.
“What we are talking about is the corpses of the well-being of the Irish people.”
Breaking down some of the stats, Central Bank figures show there are 41,000 mortgages that have been in arrears for a year or more, with 5.6% of all mortgages in arrears for that period.
“We are dealing with human people, with human misery. When I look at the ECB (European Central Bank) I have to say, it makes me grimace,” said Norris, stating “it’s like forcing the Jews to pay for their own execution”.
Highlighting some of the country’s stark history when it comes to landowners and evictions, he said he finds it “astonishing” that an Irish Republic would stand over evictions.
“There is a thing in Ireland about owning your land and owning your own home,” he added.
“With regards the banks – they have learned nothing. They are precisely the same as they were before the crisis,” said the senator, adding that they are unleashing “financial terror” on people.
The Green Party and Solidarity-People Before Profit are supporting Bill, while it is understood the government are opposing it due to its “unaffordablity”, with one government source stating that it would create an indeterminate demand of the limited fiscal resources and the Bill would interfere with negotiations ongoing between lenders and mortgage holders.
Speaking at the launch of the Bill yesterday, homeless activist Father Peter McVerry said he did not know why anyone in Ireland could not support this Bill.
The Bill is supported by groups such as Right2Homes, the Peter McVerry Trust, Focus Ireland, Irish Mortgage Holders Organisation, Irish Homeowners Unite, The Friends of Banking and the Public Banking Forum Ireland.
If you need to talk, contact:
- Samaritans 116 123 or email jo@samaritans.org
- Aware 1800 80 48 48 (depression, anxiety)
- Pieta House 1800 247 247 or email mary@pieta.ie (suicide, self-harm)
- Teen-Line Ireland 1800 833 634 (for ages 13 to 19)
- Childline 1800 66 66 66 (for under 18s)
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Stand by for tons of comments from smug, self important atheists ridiculing the Filipinos.
Stand by for the inevitable smug comment slamming the atheists comments.
So bloody predictable.
You just got to see the comical side of millions of people running after a piece if wood in excessive temperatures.
Whatever turns you on.
@Joe, the reason they seem ‘smug’ is because all the evidence is on their side.
It’s the same way a physicist feels ‘smug’ about some mathematical equations to send a ship to the moon…because they firmly believe the facts are with them.
Of course, they could just launch a rocket and pray….
Or, the billions of people chasing after paper.
Queuing to see Michael Jackson relics at Newbridge Silverware good queuing to see Catholic relic ………..
I bet you guys called Copernicus and Gallillio Gallilei smug too just because they had a problem with believing stuff without any evidence whatsoever.
I guess, when you have little hope to address the core of the argument with coherent points, you’re left with name calling.
Black Friday?
Ah Joe,I see what you tried to do there,with your attempt to incorporate subtle racial connotations,which in fact proves you know little or nothing about atheism.
Superstition. Hope one day they have the education to see through it
I feel sorry for these people and how they have been colonised and continue to be exploited by westerners. A pushed belief in a better afterlife is a great way of keeping the indentured slaves happy.
Rip Jesus xx
@Joe, why is an atheist seen as smug, or self important? When you have millions of people scrambling to touch a wooden statue thinking it has powers it questions many things, doesn’t the bible mention not to worship false idols, and since the main population changed to Catholicism 400 years ago, did the previous religion not work?
Faith is seen as a virtue, but I won’t apologise for looking for fact, if you see that as smug then so be it. I am not laughing at those people but sad to see that many believe is superstition in the age we live in.
Because of Eamon Gilmore he ruined it for all atheists
Could not agree more, Graham
‘Scenes reminiscent of a rock concert mosh pit’. I was at a jesus and mary chain gig at the national, kilburn. It got so rough and abusive at the front they left the stage for their own safety! Music eventually broke out but we continued to smash the shit out of each other.
Now that’s where I found religion.
Halcyon days…..
Science, b!tches!
Thoughts and, er, prayers to his family at this tough time. Xx.
Sure they’re only having the craic nothing to see here at all.
All I am thinking about is oh my goodness all them people and I for one could not be there crowds like that no thank you just looking at them gives me a panic attack. As for what anyone believes in it’s down to them I am not judging anyone.
have your say