The elected have no sense of morality
Leaving aside the timing, which coincides with Fine Gael’s defence of their hands-off approach in our Dáil, it left me wondering why — for the select redacted few — rates on performing loans are reduced, with government approval, while ‘ordinary’ people are being hammered under the pretence that other people’s non-performing loans preclude the banks from applying fair rates to new loans.
It seems that if you don’t perform, and you then renege, you get bailed out by NAMA; if you’re a billionaire and you perform, you get a discount from IBRC and a minuscule rate; but if you’re an ‘ordinary’ person, buying a home, you foot the bill for not only your loan, but also for the other two categories, with the EU stepping in to give the current government ammo to defend their abandonment of responsibilities.
