Vulture Funds are NOT the right solution to the non-performing loans. Why can’t the banks give the right downs to homeowners and businesses instead?
These unregulated vulture funds have a worn a path in and out to the Department of Finance. They have access to key personnel. Are records of these meetings kept?
My colleague, Pearse Doherty, had an amendment down on the 2015 legislation that would have regulated the holder of the credit and not the credit servicer. Fine Gael and Labour refused to support it and Fianna Fail did not even turn up for the vote.
They seem to care now, but that’s too late for the people who have been made homeless.
