The argument is simple. State-owned banks, and therefore the State itself, intend to sacrifice ordinary people (aka honest, but defaulting borrowers) by abandoning them to unregulated vulture funds who will gouge them for super profits. This must, in the name of all that is decent and civilised, be stopped.
Lets look at the facts. Permanent TSB (PTSB) intends to sell a large portfolio of defaulting loans. Given the huge size of the portfolio it is inevitable that the buyer will be a fund. These funds invest on behalf of pensioners, universities, chari…
Read the full article at: https://www.irishtimes.com/opinion/ross-maguire-borrowers-have-little-to-fear-from-vulture-funds-1.3399155
