Upcoming Events

National | Anti-Capitalism

no events match your query!

User Preferences

  • Language - en | ga
  • text size >>
  • make this your indymedia front page make this your indymedia front page

Blog Feeds

The Saker
A bird's eye view of the vineyard

offsite link World SITREP May 5th, 2016 by Baaz Thu May 05, 2016 16:17 | Scott
Russia President Putin and Prime Minister Medvedev attend Orthodox Easter Liturgy Mass in Moscow Chechen special forces in Arctic military drills (GoPro & drone footage) Chechen special forces on an

offsite link Foreign Policy Diary ? Donbass: Further Escalation of Violence Thu May 05, 2016 14:47 | The Saker
https://southfront.org/foreign-policy...

offsite link Peter Lavelle and Alexander Mercouris create a new media resource Thu May 05, 2016 14:27 | The Saker
Dear friends, As some of you might have already heard from the social media, Peter Lavelle and Alexander Mercouris have decided to create a new media ressource: The Duran which

offsite link NATO on trade, in Europe and Asia, is doomed Thu May 05, 2016 14:07 | The Saker
by Pepe Escobar for RT The President of the United States (POTUS) is desperate. Exhibit A: His Op-Ed defending the Asian face – the Trans-Pacific Partnership (TPP) – of a

offsite link Dying to Dive. Underwater Search for Serenity with World?s Top Freedivers Wed May 04, 2016 18:20 | The Saker
A very good video about my favorite sport – freediving – which I practiced for now over 40 years, going from snorkeling off a sand beach at age 10 to

The Saker >>

Human Rights in Ireland
www.humanrights.ie

offsite link Intensifying the glare of the United Nations? spotlight Wed May 04, 2016 06:46 | GuestPost

offsite link PhD studentships at DCU Fri Apr 29, 2016 17:15 | Eoin Daly

offsite link The Role of Sport in the Recognition of Transgender and Intersex Rights Mon Apr 11, 2016 10:54 | Eoin Daly

offsite link Call for Papers: ?International and Comparative Law in the 21st Century: Lessons learned?? Wed Mar 23, 2016 17:58 | GuestPost

offsite link Call for Contributions & Engagement #directprovision16: Direct Provision 16 years on, and on, and on... Tue Mar 15, 2016 13:08 | Liam Thornton

Human Rights in Ireland >>

Cedar Lounge
For lefties too stubborn to quit

offsite link Red Banner ? An Appreciation 17:08 Thu May 05, 2016 | guestposter

offsite link Government without the pain. 12:59 Thu May 05, 2016 | WorldbyStorm

offsite link That FF-FG arrangement 11:52 Thu May 05, 2016 | WorldbyStorm

offsite link Optimism issues? 07:51 Thu May 05, 2016 | WorldbyStorm

offsite link Middle class entitlement 17:47 Wed May 04, 2016 | WorldbyStorm

Cedar Lounge >>

Dublin Opinion
Life should be full of strangeness, like a rich painting

offsite link Notes for a Book on Money and the Irish State - The Marshall Aid Program 15:10 Sat Apr 02, 2016

offsite link The Financial Crisis:What Have We Learnt? 19:58 Sat Aug 29, 2015

offsite link Money in 35,000 Words or Less 21:34 Sat Aug 22, 2015

offsite link THE WRATH OF KANE: BANKING CRISES AND POLITICAL POWER 09:32 Fri Jan 30, 2015

offsite link ALWAYS THE ARTISTS: WEEK THREE OF THE BANK INQUIRY 23:11 Thu Jan 22, 2015

Dublin Opinion >>

13,000 mortgage holders cynically sold down the river by our Government

category national | anti-capitalism | other press author Sunday February 16, 2014 23:43author by fred Report this post to the editors

Stephen Donnelly, in an aticle in the independent has highlighted the government's complete lack of interest in the 13,000 mortgage holders from Irish Nationwide. In an excellent article he bares the reality of how current government's neo liberal ideology takes precedence over the suffering of families in mortgage arrears and how foreign vulture capitalists are allowed to get a large discount on these houses but the families actually living in them and supporting the local economy are prevented from getting the option of such a discount

stephendonnellyapp.jpg

Here is a quote from the article:

The Government is about to throw 13,000 Irish families to the vultures.

In just a few weeks, their mortgages, taken out with Irish Nationwide Building Society, are to be sold to the highest international bidders. But the Government, in an act of raw stupidity and vandalism, is expressly forbidding the families from bidding for their own loans.

The mortgages will be sold off in batches of several thousand, and bought by foreign fund managers, eager for a home for their clients' money. The performing mortgages will be bundled together and sold at a discount of about 10 per cent. The less attractive ones, like those in arrears or serious negative equity, could be sold at discounts of 50 per cent or more.

For the purposes of this article, let's assume that John manages a fund on Wall Street, and is one of the lucky buyers. Here's what's coming for the families. Let's say you've a mortgage with 300k left to pay on it, and that you're fully up to date on your payments. John has just bought your mortgage for 270k but you still owe him the full 300k. You'll still pay, and John will bring 30k in profit back to New York. You could have refinanced the mortgage


Full article here:
http://www.independent.ie/opinion/analysis/stephen-donn....html

author by fredpublication date Sun Feb 16, 2014 23:45Report this post to the editors

another previous indo article covering this:

http://www.independent.ie/opinion/analysis/mortgage-sel....html

How did they get away with doing this?

author by anonpublication date Mon Feb 17, 2014 20:44Report this post to the editors

So it's bailout of billions for the bankers and developers and meanwhile for the unfortunate people screwed over by the former, they are thrown to the financial wolves. It is clear who the government serves.

 
© 2001-2016 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy