There's no place like home for avoiding the truth
Is it so bad to admit that some homes should be repossessed, asks Eilis O'Hanlon
Published 19/04/2015 | 02:30
Anger is the natural psychological defence mechanism when something threatens one's sense of self or most deeply held beliefs.
The reaction to the formation of a new Irish Moral Hazard Organisation (IMHO) conforms exactly to that pattern.
The IMHO has a simple philosophy. Those who make some effort to pay off their outstanding mortgages, and who engage positively with banks and the courts, should not have their homes repossessed; but those who refuse to pay a single cent, often for years on end, should not expect to keep their homes or expect sympathy when the banks come a knocking for the keys back, because, frankly, they're taking us all for a ride.