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The Great Irish Sell Off

  • 09-01-2017 9:46pm
    #1
    WoollyRedHat
    Registered Users, Registered Users 2 Posts: 10,462 ✭✭✭✭


    Anyone watching this on Rte 1? The role vulture funds are playing in terms of property sector in Ireland and buying so called stressed loans; distressed assets and their impact on economies. The dark underbelly of the crash.


Comments

  • #2
    dmc17
    Registered Users, Registered Users 2 Posts: 3,782 ✭✭✭dmc17


    Yes, I'm watching it


  • #3
    WoollyRedHat
    Registered Users, Registered Users 2 Posts: 10,462 ✭✭✭✭WoollyRedHat


    These companies own over 10 billion euro in assets, paid 8k in tax. Goverment facilitated them. FG resides over this and it's shocking...


  • #4
    dar100
    Registered Users, Registered Users 2 Posts: 1,735 ✭✭✭dar100


    WoollyRedHat wrote: »
    These companies own over 210 million euro in assets, paid 8k in tax. Goverment facilitated them. FG resides over this and it's shocking...

    10 billion in assets


  • #5
    WoollyRedHat
    Registered Users, Registered Users 2 Posts: 10,462 ✭✭✭✭WoollyRedHat


    dar100 wrote: »
    10 billion in assets

    Thank you, have amended..even more incredulous.


  • #6
    listermint
    Registered Users, Registered Users 2 Posts: 34,216 ✭✭✭✭listermint


    WoollyRedHat wrote: »
    Thank you, have amended..even more incredulous.

    250 million profits which they each paid about 250 euro. Yes the same price as a playstation in tax.


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  • #7
    learn_more
    Closed Accounts Posts: 1,520 ✭✭✭learn_more


    Depressing


  • #8
    y0ssar1an22
    Registered Users, Registered Users 2 Posts: 17,762 ✭✭✭✭y0ssar1an22


    correct me if i'm wrong here, but is the term vulture fund slightly misleading. surely the people in debt have to repay the original, agreed-upon loan, whether to BoI or lone star?


  • #9
    Wheeliebin30
    Closed Accounts Posts: 5,593 ✭✭✭Wheeliebin30


    y0ssar1an22 wrote: »
    correct me if i'm wrong here, but is the term vulture fund slightly misleading. surely the people in debt have to repay the original, agreed-upon loan, whether to BoI or lone star?

    No people just think they shouldn't have to pay back their loans because the banks tricked them into taking out the loans.


  • #10
    listermint
    Registered Users, Registered Users 2 Posts: 34,216 ✭✭✭✭listermint


    y0ssar1an22 wrote: »
    correct me if i'm wrong here, but is the term vulture fund slightly misleading. surely the people in debt have to repay the original, agreed-upon loan, whether to BoI or lone star?

    The term comes from picking up the loan and cents on the dollar and going after the full amount regardless of circumstances with incredible gusto.

    Its nothing to do with the original loan or originally agreed terms.


  • #11
    dmc17
    Registered Users, Registered Users 2 Posts: 3,782 ✭✭✭dmc17


    The programme makes it sound like the 'vulture funds' are the devil. They are just businesses at the end of the day. It's the government are worse for enticing them.


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  • #12
    listermint
    Registered Users, Registered Users 2 Posts: 34,216 ✭✭✭✭listermint


    dmc17 wrote: »
    The programme makes it sound like the 'vulture funds' are the devil. They are just businesses at the end of the day. It's the government are worse for enticing them.

    This is true.


  • #13
    dmc17
    Registered Users, Registered Users 2 Posts: 3,782 ✭✭✭dmc17


    y0ssar1an22 wrote: »
    correct me if i'm wrong here, but is the term vulture fund slightly misleading. surely the people in debt have to repay the original, agreed-upon loan, whether to BoI or lone star?

    I think it's a comparison with the vulture birds who scavenge on dead/dying animals. The funds do the same with these loans/assets?


  • #14
    Ken.
    Closed Accounts Posts: 12,898 ✭✭✭✭Ken.


    Mod- A thread has started on this in the Acc & prop forum. Thread is here http://www.boards.ie/vbulletin/showthread.php?t=2057691323
    That forum is the best place for a discussion on this. Please read the local charter if you do go post there.


This discussion has been closed.
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