Hit individuals: Tracker mortgage scam

RELYING on time to draw the sting on any issue is a default tactic in crisis management. “Get to the weekend,” goes the saying, and all will be forgotten. A new crisis will take the headlines and your little difficulty will be forgotten.

This strategy has saved the day for many an exposed institution or individual over the decades and it seems that it is being used again by the banks over the tracker mortgage scam, except in their case it seems to be underlined by a particular contempt for any idea of social responsibility.

Yesterday, Ballyhaunis solicitor Evan O’Dwyer, who has worked for cheated mortgage holders, said the behaviour of the banks has caused people to take their own lives.

And yet our Government persists with the kid-glove, softly, softly approach. That any fine levied on the banks is really a fine imposed on ourselves may be behind this limp-wristed indulgence, but it seems that unless individuals rather than institutions face real, pocket-draining sanction, it is only a matter of time before the tracker swizz is trumped by yet
another banking scandal.


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