Upcoming Events

National | Anti-Capitalism

no events match your query!

Blog Feeds

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link RTEs Sarah McInerney ? Fianna Fail?supporter? Anthony

offsite link Joe Duffy is dishonest and untrustworthy Anthony

offsite link Robert Watt complaint: Time for decision by SIPO Anthony

offsite link RTE in breach of its own editorial principles Anthony

offsite link Waiting for SIPO Anthony

Public Inquiry >>

Human Rights in Ireland
Promoting Human Rights in Ireland

Human Rights in Ireland >>

Lockdown Skeptics

The Daily Sceptic

offsite link Why Do 1,000 Refugees Get Free Wimbledon Tickets While Long Suffering Locals Get None? Mon Jun 30, 2025 19:37 | Jo-Anne Nadler
As Wimbledon gets underway, its SW19 neighbours have to put up with a lot, from encroaching development to security checks to get home. Yet, unlike 1,000 refugees, they're shut out from the tennis, says Jo-Anne Nadler.
The post Why Do 1,000 Refugees Get Free Wimbledon Tickets While Long Suffering Locals Get None? appeared first on The Daily Sceptic.

offsite link Criminal Investigation Launched into Bob Vylan and Kneecap?s Glastonbury Performances as US Revokes ... Mon Jun 30, 2025 17:43 | Will Jones
Police have announced a criminal investigation into Bob Vylan and Kneecap's Glastonbury?performances as the Trump administration kills the punk duo's American tour by revoking their visa over antisemitic death chants.
The post Criminal Investigation Launched into Bob Vylan and Kneecap’s Glastonbury Performances as US Revokes Punk Group’s Visa Over Antisemitic Death Chants appeared first on The Daily Sceptic.

offsite link What is the Purpose of Sydney Sweeney?s Bathwater? Mon Jun 30, 2025 15:30 | Chris Bullick
Unilever ? the company that once declared "brands without purpose have no future" ? has bought the Sydney Sweeney bathwater soap brand. Woke is dead, says Chris Bullick.
The post What is the Purpose of Sydney Sweeney’s Bathwater? appeared first on The Daily Sceptic.

offsite link Chris Whitty Was Behind Covid Guidance That Triggered Care Homes Spread, FOI Emails Reveal Mon Jun 30, 2025 13:01 | Will Jones
Professor Sir Chris Whitty?was responsible for government guidance that was believed to have triggered the spread of Covid into?care homes, the Telegraph has revealed.
The post Chris Whitty Was Behind Covid Guidance That Triggered Care Homes Spread, FOI Emails Reveal appeared first on The Daily Sceptic.

offsite link An Inspector Calls ? and Then Tells You What to Think Mon Jun 30, 2025 11:00 | Jack Watson
Sixteen year-old Jack Watson confesses to lying about what he really thinks about socialism and climate change to get good grades in his GCSEs. If you criticise either, he says, you will be marked down.
The post An Inspector Calls ? and Then Tells You What to Think appeared first on The Daily Sceptic.

Lockdown Skeptics >>

Voltaire Network
Voltaire, international edition

offsite link Will intergovernmental institutions withstand the end of the "American Empire"?,... Sat Apr 05, 2025 07:15 | en

offsite link Voltaire, International Newsletter N?127 Sat Apr 05, 2025 06:38 | en

offsite link Disintegration of Western democracy begins in France Sat Apr 05, 2025 06:00 | en

offsite link Voltaire, International Newsletter N?126 Fri Mar 28, 2025 11:39 | en

offsite link The International Conference on Combating Anti-Semitism by Amichai Chikli and Na... Fri Mar 28, 2025 11:31 | en

Voltaire Network >>

13,000 mortgage holders cynically sold down the river by our Government

category national | anti-capitalism | other press author Sunday February 16, 2014 23:43author by fred Report this post to the editors

Stephen Donnelly, in an aticle in the independent has highlighted the government's complete lack of interest in the 13,000 mortgage holders from Irish Nationwide. In an excellent article he bares the reality of how current government's neo liberal ideology takes precedence over the suffering of families in mortgage arrears and how foreign vulture capitalists are allowed to get a large discount on these houses but the families actually living in them and supporting the local economy are prevented from getting the option of such a discount
stephendonnellyapp.jpg

Here is a quote from the article:

The Government is about to throw 13,000 Irish families to the vultures.

In just a few weeks, their mortgages, taken out with Irish Nationwide Building Society, are to be sold to the highest international bidders. But the Government, in an act of raw stupidity and vandalism, is expressly forbidding the families from bidding for their own loans.

The mortgages will be sold off in batches of several thousand, and bought by foreign fund managers, eager for a home for their clients' money. The performing mortgages will be bundled together and sold at a discount of about 10 per cent. The less attractive ones, like those in arrears or serious negative equity, could be sold at discounts of 50 per cent or more.

For the purposes of this article, let's assume that John manages a fund on Wall Street, and is one of the lucky buyers. Here's what's coming for the families. Let's say you've a mortgage with €300k left to pay on it, and that you're fully up to date on your payments. John has just bought your mortgage for €270k – but you still owe him the full €300k. You'll still pay, and John will bring €30k in profit back to New York. You could have refinanced the mortgage


Full article here:
http://www.independent.ie/opinion/analysis/stephen-donn....html

author by fredpublication date Sun Feb 16, 2014 23:45author address author phone Report this post to the editors

another previous indo article covering this:

http://www.independent.ie/opinion/analysis/mortgage-sel....html

How did they get away with doing this?

author by anonpublication date Mon Feb 17, 2014 20:44author address author phone Report this post to the editors

So it's bailout of billions for the bankers and developers and meanwhile for the unfortunate people screwed over by the former, they are thrown to the financial wolves. It is clear who the government serves.

 
© 2001-2025 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy