Banks disregard public sentiment

I WISH to express my utter disgust at the way Permanent TSB (PTSB) has treated its variable rate mortgage holders by increasing its rates by 0.5%.

PTSB is blaming the increase on “commercial market realities, including the increased cost of accessing funds”.

This is the reality of the markets. PTSB is committed to maintaining profitability of behalf of its shareholders, but what about the reality that if the Government did not guarantee its deposits back in September, there might not be a PTSB. What about the reality that allowed key PTSB executives to authorise the transfer of huge sums to Anglo Irish Bank bank in the middle of a liquidity crisis without the board’s knowledge or approval and no one has been brought before the courts.