Comments on: Bankers Living In Lala Land http://www.shane-ross.ie/archives/446/bankers-living-in-lala-land/ Independent TCD senator Shane Ross Thu, 09 Sep 2010 14:19:06 +0000 http://wordpress.org/?v=2.6.5 By: Paul McDonald http://www.shane-ross.ie/archives/446/bankers-living-in-lala-land/#comment-2746 Paul McDonald Mon, 22 Dec 2008 17:05:25 +0000 http://www.shane-ross.ie/?p=446#comment-2746 And I'd like to start by restraining the Minister of Finance from making any decision order or legislation of any kind disgorging any monies whatsoever belonging to the State to bankers of any shape or size until the terms and conditions of any such agreements have been independently reviewed debated voted on and adjusted by the citizens of Ireland. Senator Ross, will you instigate such proceedings as might be required in the Supreme Court on our behalf immediately and as a matter of urgency? Yours Sincerely, Paul McDonald, Clerk of Works And I’d like to start by restraining the Minister of Finance from making any decision order or legislation of any kind disgorging any monies whatsoever belonging to the State to bankers of any shape or size until the terms and conditions of any such agreements have been independently reviewed debated voted on and adjusted by the citizens of Ireland.

Senator Ross, will you instigate such proceedings as might be required in the Supreme Court on our behalf immediately and as a matter of urgency?

Yours Sincerely,
Paul McDonald, Clerk of Works

]]> By: Simon McCarthy http://www.shane-ross.ie/archives/446/bankers-living-in-lala-land/#comment-2744 Simon McCarthy Sat, 20 Dec 2008 03:16:07 +0000 http://www.shane-ross.ie/?p=446#comment-2744 Dear Mr Ross The government is about to deliver billions of taxpayers money into the hands of the banks this after the scandal at Anglo Irish. We all know there will be more scandals to come. Giving any money to the banks without first removing the people who, along with their like around the world caused this crisis, is nothing short of criminal. The banks will use the funds to paper over their misdeeds and build their share value. People are losing their homes. That is the crisis, jobs are being lost. And should the need arise where ordinary people need help all the money will have been used to bail out the few. Wealth is created by the people. No bank should have any money till the interest reductions are past on by all the banks. Home owner mortgages should be extended in duration by up to 30%. We have one of the highest rates of home owners that must be protected. Workers are offering reduced wages to keep their jobs that will make us a more affordable country, the banks have it in their power to help. If banks don't help, and it does seem they have no intention of helping then perhaps a solution would be for the government to use the billions they have to buy out the interest on home owner mortgages from the banks at a low rate. The banks would then own the capitol they get and could resume normal business. Homeowners could repay the government at the end of their mortgage in stage payments or as equity in their property. In this way hardship is avoided families greatest asset is protected. Banks earn their interest over 20 or even thirty years buying the interest now in cash could be done at a affordable rate,the fact that the interest would have to be repaid would also have the effect of reducing the risk of the loan market becoming over inflated again. I have not mentioned business loans simply because I think attacking the problem from the home owner mortgage angle is just and fair. But more importantly it would make wage restraint or even wage reduction a real possibility. For any country to come out of this crisis it will have to be a value for money economy. Dear Mr Ross
The government is about to deliver billions of taxpayers money into the hands of the banks this after the scandal at Anglo Irish. We all know there will be more scandals to come. Giving any money to the banks without first removing the people who, along with their like around the world caused this crisis, is nothing short of criminal. The banks will use the funds to paper over their misdeeds and build their share value.
People are losing their homes. That is the crisis, jobs are being lost. And should the need arise where ordinary people need help all the money will have been used to bail out the few.
Wealth is created by the people. No bank should have any money till the interest reductions are past on by all the banks. Home owner mortgages should be extended in duration by up to 30%. We have one of the highest rates of home owners that must be protected. Workers are offering reduced wages to keep their jobs that will make us a more affordable country, the banks have it in their power to help.
If banks don’t help, and it does seem they have no intention of helping then perhaps a solution would be for the government to use the billions they have to buy out the interest on home owner mortgages from the banks at a low rate. The banks would then own the capitol they get and could resume normal business. Homeowners could repay the government at the end of their mortgage in stage payments or as equity in their property. In this way hardship is avoided families greatest asset is protected. Banks earn their interest over 20 or even thirty years buying the interest now in cash could be done at a affordable rate,the fact that the interest would have to be repaid would also have the effect of reducing the risk of the loan market becoming over inflated again.
I have not mentioned business loans simply because I think attacking the problem from the home owner mortgage angle is just and fair. But more importantly it would make wage restraint or even wage reduction a real possibility. For any country to come out of this crisis it will have to be a value for money economy.

]]> By: Ciarán Reilly http://www.shane-ross.ie/archives/446/bankers-living-in-lala-land/#comment-2740 Ciarán Reilly Mon, 08 Dec 2008 21:16:48 +0000 http://www.shane-ross.ie/?p=446#comment-2740 I received a very cheery letter this morning from Bank of Ireland offering me a personal loan of up to €8,000. I doubt that I'm uniquely attractive as a borrower so I can only assume that lots of BoI customers are being offered this largesse. La la la la la la. I received a very cheery letter this morning from Bank of Ireland offering me a personal loan of up to €8,000. I doubt that I’m uniquely attractive as a borrower so I can only assume that lots of BoI customers are being offered this largesse.

La la la la la la.

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