Minister helpless in face of home repossessions

It is not reassuring that Finance Minister Michael Noonan has acknowledged that enacted insolvency legislation may have to be “tweaked”.

He has presided over foreign investment funds buying up to 10,000 home loans when Irish banks offloaded them last year. With property values increasing these unregulated entities will strong arm residential customers into giving up their homes through litigation.

Mr Noonan reiterated that the Government is “very conscious of the issue and it’s the policy of the Government not to have homes repossessed”. Such nonsense. It just shows AIB should not be sold off.