9 thoughts on “Four Years On

  1. Odis

    I thought there was supposed to be a government agency to handle this one? I remember them advertising for people, a while back where I live.
    Funnily enough all the appointments went to the kids of folks who knew the right folks, rather than to people knowledgeable in dealing with debt.

    1. Clampers Outside!

      True… apparently, they must’ve been ineffectual… surprise, surprise….

      I hope this new measure works.

      Hell, I’d even begrudgingly go with a writedown on some mortgage debts, even those lent to and borrowed wrecklessly for their home… [second house owners can fupp off, sell the second one if you want a writedown] so long as those measures give a good kick to the arse of the economy and help get the country moving again.

      1. Odis

        A write down on mortgage debt, or some similar plan, is a lot better than getting the keys back. Unless you’re talking Dublin (and even that can be sorted equitably).

        Like you said I hope this crowd, can sort it out.

  2. Steve

    We blame the government/central bank for allowing the banks to charge exorbitant variable mortgage interest rates , but yet also blame the government for not helping those in negative equity. The two aren’t mutually exclusive ye know. Large scale debt removal = further bank capitalisation = higher taxes to keep banks liquid. But it needs to be done or we will never crawl fully out of this recession.

    the ‘moral hazard’ issue in this debate…we all partied versus I wisely didn’t listen to my parents / mates in 2006 when they told me to buy a gaff in trim for 800k…means 4 years figuring this out is nothing. Unfair headline from broadsheet IMO

    1. Odis

      Yeah, but seriously, whats the point in declaring bad debt or an overvalued property as an asset?
      I would argue that its dishonest. And, precisely what got the banks in trouble in the first place.

    2. Odis

      “Large scale debt removal = further bank capitalisation = higher taxes to keep banks liquid. – No actually, thinking about it, I don’t think that’s the case. I believe there are stricter rules for how banks handle delinquent debt nowadays. So I think you’ll find that aspect covered by current capitalisation.

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