Home repossessions - Ill-timed suggestion by regulator

THE Jekyll and Hyde nature of Irish life was all too apparent yesterday as an outlandish proposal of higher salaries for top bankers was flagged by the financial regulator while at the same time 100 struggling mortgage holders saw orders for possession of their homes sought by lenders since December 2009 being struck out.

The question beleaguered homeowners will ask Central Bank regulator Matthew Elderfield is whether he is totally out of touch with reality?

His contention that fresh blood is needed in the banking market and that the only way to get it is by removing the salary cap in place will be anathema to hard-pressed taxpayers.