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Poor Me, Poor Me... Vulture Funds etc...

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    #62
    ILoveYourVibes
    Registered Users Posts: 15,176 ✭✭✭✭ILoveYourVibes


    riclad wrote: »
    A vulture fund is a company that invests in property,
    some new buildings would not exist unless we had companys

    .


    A vulture fund is not a company.

    Its nothing like a company.

    Avulture fund is a debting fund is hedge fund a private equity fund etc.

    Must like the hedge funds that caused the actual crisis. Their goal is to buy undervalued property and to try and cause over valuing.

    They things like international pension funds or equity funds.

    All of these funds are managed by companies distinct from themselves. But they are not companies themselves.

    They don't produce anything. They don't preform services. They don't even generally provide much liquidity like normal investors.

    Its treating the property market like the stock market. This generally doesn't go well.


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    #63
    PistolsAtDawn
    Registered Users Posts: 335 ✭✭PistolsAtDawn


    amcalester wrote: »
    The EU hands us back to the Brits.

    I got to throw on and go on
    You know I gots to flow on
    Selectors on the radio play us
    'Cause we're friendly for ozone
    But that's not all so hold on tight
    As I rock the mic right
    Oh, excuse me, pardon
    As I synchronise with the analysed
    Upcomin' vibes, the session
    Let there be a lesson, question
    You carry protection
    Or will your heart go on
    Like Celine Dion
    Karma Chameleon


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    #64
    ChikiChiki
    Closed Accounts Posts: 4,950 ✭✭✭ChikiChiki


    https://m.independent.ie/business/personal-finance/government-helping-vulture-funds-push-citizens-out-of-homes-un-37955106.html

    Regardless of people taking the piss with mortgage arrears, I certainly don't think our Government are on the side of the people.


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    #65
    Wtf ?
    Banned (with Prison Access) Posts: 343 ✭✭Wtf ?


    ChikiChiki wrote: »
    https://m.independent.ie/business/personal-finance/government-helping-vulture-funds-push-citizens-out-of-homes-un-37955106.html

    Regardless of people taking the piss with mortgage arrears, I certainly don't think our Government are on the side of the people.
    Why should they ? People who are taking the piss dont deserve any help. They are hoping the government will do something and they will be quids in along with the genunine cases


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    #66
    GhostyMcGhost
    Registered Users Posts: 1,349 ✭✭✭GhostyMcGhost


    Lovely, another us vs them thread. Good aul Leo, keep us fighting with each other and not with the completely inept government....


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    #67
    Wtf ?
    Banned (with Prison Access) Posts: 343 ✭✭Wtf ?


    Who is us and who is them ?


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    #68
    Rubberchikken
    Registered Users Posts: 5,083 ✭✭✭Rubberchikken


    we managed to pay our mortgage through two recessions.
    theres no sympathy here for those thst cant/wont.
    no sympathy for thr banks, govt, vulture funders etc.
    either pay what you owe or do without.

    this country learned nothing from the last recession. the great and good are all sailing around in their pcp financed compact suvs and their newish audis/beemers. we are heading for a fall and the sooner people realise it the better.


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    #69
    Hedgelayer
    Registered Users Posts: 530 ✭✭✭Hedgelayer


    Its going to be very hard to sort out this whole property mess and everyone will be happy.

    There's working people who haven't paid their mortgage in a long time, they still go on holidays, still buy new clothes and have their comforts.

    They're accustomed to this lifestyle now, so they think they're untouchable and keep kicking the can down the road.

    And the establishment kicks it back, and forth.

    I understand the variables etc, but the banks shouldn't have been stupid giving out mortgages to people without a secure job.

    The public sector, the factories such as the production of smoke alarms and health safety equipment are secure, the likes of pest control, mechanics which are well established are secure, farming and other essential jobs are secure.
    Health and safety tutor's, and similar jobs are secure because health and safety needs to be adhered to...
    Along with a few more essential jobs, the binman would be secure enough too...

    What's left can be on shaky ground.

    The amount of IT and tele center places which keep on collapsing and changing over is unreal totally unsecure jobs,


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    #70
    Hedgelayer
    Registered Users Posts: 530 ✭✭✭Hedgelayer


    Rubberchikken wrote: »
    we managed to pay our mortgage through two recessions.
    theres no sympathy here for those thst cant/wont.
    no sympathy for thr banks, govt, vulture funders etc.
    either pay what you owe or do without.

    this country learned nothing from the last recession. the great and good are all sailing around in their pcp financed compact suvs and their newish audis/beemers. we are heading for a fall and the sooner people realise it the better.

    Exactly all that glitters isn't gold.

    Sit back and watch them weep and realise that you made all the right decisions.

    At least we own our cars unlike those who live ostentatious lifestyles only to have to hand it all back....
    And crack under the pressure....


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    #71
    Mr. teddywinkles
    Registered Users Posts: 1,962 ✭✭✭Mr. teddywinkles


    Hedgelayer wrote: »
    Its going to be very hard to sort out this whole property mess and everyone will be happy.

    There's working people who haven't paid their mortgage in a long time, they still go on holidays, still buy new clothes and have their comforts.

    They're accustomed to this lifestyle now, so they think they're untouchable and keep kicking the can down the road.

    And the establishment kicks it back, and forth.

    I understand the variables etc, but the banks shouldn't have been stupid giving out mortgages to people without a secure job.

    The public sector, the factories such as the production of smoke alarms and health safety equipment are secure, the likes of pest control, mechanics which are well established are secure, farming and other essential jobs are secure.
    Health and safety tutor's, and similar jobs are secure because health and safety needs to be adhered to...
    Along with a few more essential jobs, the binman would be secure enough too...

    What's left can be on shaky ground.

    The amount of IT and tele center places which keep on collapsing and changing over is unreal totally unsecure jobs,

    Don't think any job is total secure


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    #72
    pure.conya
    Registered Users Posts: 904 ✭✭✭pure.conya


    Cee-Jay-Cee wrote: »
    But we, the people, do NOT benefit in anyway from the state owning or part owning the banks. Bankers and government ministers benefit, vulture funds benefit, developers who made millions, lost millions and had that debt written off, benefitted. We the people got fúck all.

    simply, because we let them all royally screw us over, i said it at the time and it's still going on to this day, when will we ever learn

    https://www.youtube.com/watch?v=LMBfc6uBoTk


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    #73
    Wanderer78
    Registered Users Posts: 28,944 ✭✭✭✭Wanderer78


    Maybe it would be a good idea to create a more democratic method of money creation rather than our current, more plutocratic method? Maybe allowing banks to create the majority of our money, via credit creation, isn't such a good idea?


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    #74
    pure.conya
    Registered Users Posts: 904 ✭✭✭pure.conya


    Wheety wrote: »
    I can't imagine banks are selling off up to date, performing loans? Why would you?

    there's a word for repackaging loans and mortgages together to sell on or raise capital

    MBS mortgage backed securities

    A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages. The mortgages are sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. The mortgages of an MBS may be residential or commercial, depending on whether it is an Agency MBS or a Non-Agency MBS; in the United States they may be issued by structures set up by government-sponsored enterprises like Fannie Mae or Freddie Mac, or they can be "private-label", issued by structures set up by investment banks.
    Wikipedia


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    #75
    pure.conya
    Registered Users Posts: 904 ✭✭✭pure.conya


    ILoveYourVibes wrote: »
    They will dive up rent and property prices though. Hugely.

    they've driven up rent and property prices though, hugely


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    #76
    pure.conya
    Registered Users Posts: 904 ✭✭✭pure.conya


    dxhound2005 wrote: »
    Anyone with deposits in the banks was saved from losing their money. Including lots of small depositors with Anglo Irish. Those advocating burning the bondholders would have burnt everyone.

    bullsh1t, unsecured bondholders should have been burnt, end of story

    the government turned on the trusty postbank, shut it down straight away to help the banks, and just recently the credit union is forced to limit people's savings because its performing too well


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    #77
    pure.conya
    Registered Users Posts: 904 ✭✭✭pure.conya


    Mad_maxx wrote: »
    Iceland is not doing anywhere near as well as us

    really?

    https://tradingeconomics.com/iceland/government-debt-to-gdp Iceland

    https://tradingeconomics.com/ireland/government-debt-to-gdp Ireland


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    #78
    pure.conya
    Registered Users Posts: 904 ✭✭✭pure.conya


    Wtf ? wrote: »
    Why should they ? People who are taking the piss dont deserve any help.

    like these cretins?

    https://www.youtube.com/watch?v=CKoezZdzjfw


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    #79
    pure.conya
    Registered Users Posts: 904 ✭✭✭pure.conya


    Hedgelayer wrote: »

    I understand the variables etc, but the banks shouldn't have been stupid giving out mortgages to people without a secure job.

    ,

    the banks aren't stupid tho, they know they're too big to fail, remember the time we were all told that Brian Cowen, leader of the funking country as its sailing down the swanny went and played a full round of golf with the bankers and none of them discussed banking business

    https://www.thejournal.ie/brian-cowen-banking-inquiry-5-2204482-Jul2015/


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    #80
    hatrickpatrick
    Registered Users Posts: 17,797 ✭✭✭✭hatrickpatrick


    Private banking should be abolished entirely and the monetary system run by a public, non-profit body which aims to break even and nothing more. The fact that we entrust a part of our society which is so central to its operation to entirely private companies whose motivations are often completely at odds with the greater good, in a way which we don't do with other fundamental sectors, is utterly bizarre.

    As far as I'm concerned, usury itself is the cause of a lot of our economic issues. Replace that system with a non-profit one and a lot of problems (not all, but a lot) would become irrelevant.


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    #81
    GhostyMcGhost
    Registered Users Posts: 1,349 ✭✭✭GhostyMcGhost


    Hedgelayer wrote: »
    Exactly all that glitters isn't gold.

    Sit back and watch them weep and realise that you made all the right decisions.

    At least we own our cars unlike those who live ostentatious lifestyles only to have to hand it all back....
    And crack under the pressure....

    Good for you. Glad your magic beans are growing well


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    #82
    is_that_so
    Registered Users Posts: 32,136 ✭✭✭✭is_that_so


    pure.conya wrote: »
    bullsh1t, unsecured bondholders should have been burnt, end of story

    the government turned on the trusty postbank, shut it down straight away to help the banks, and just recently the credit union is forced to limit people's savings because its performing too well
    Not burning bondholders was an ECB call. It's actually becoming too expensive for them to pay the interest as not enough are borrowing.


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