Monday 26 February 2018

Lets call it Banking Bad

Barry Egan

Barry Egan

Colourful developer Jerry Beades is predicting protests on the streets of Ireland in mounting anger at the banks in Ireland.

Though  the banks in Ireland are not quite families putting out of their homes at the same rate as Walter White and Jesse Pinkman WERE KNOCKING OUT BATCHES OF crystal methamphetamine.

No - it just seems like that.

Beades, the 55 year old chairman of Friends of Banking Ireland, led the successful protest at the Dublin offices of auctioneers Allsop Space last Monday  - resulting in Allsop agreeing that no properties in future will be offered for sale where there is a legal dispute between the registered owner and the bank/receiver.

“People have had enough,” Beades raged yesterday. “They are getting more and more angry. This is escalating on a daily basis. The politicians are about two years behind what’s happening in this country. There is so much pain and misery and people are not going to take it any more.”

“It is scandalous what’s going on in this country under our noses,” he continued in reference to the family homes repossessed by banks and the virtual  carpet-baggery that follows at the expense of  the  citizens of Ireland.

“I don’t want to get into being anti-foreigner or anything like that, but what’s happening is the properties are being sold for pittance," he said.

"It came out in the Dail that people who have loans for  300,000 Euros; their loans are  being sold for 150,000 and the people that owned them are not allowed to bid for them at 150,000. People are waking up to the fact that when their loans are sold  - outside the jurisdiction or maybe inside the jurisdiction  - they are being sold to unlicensed, unregulated money entities who are not accountable  to anyone. That's a fucking disgrace.”

 Beades added with regard to  the historic agreement with  Allsops last MondaY that: "it is now setting a new industry standard for all the professionals dealing with distressed properties in Ireland."

He also claimed   that already  "a number of auctioneers have agreed to sign up to the same wording, because there is massive meltdown happening in Ireland. There are 500,000 people going to have property taken off them because of business debt, credit card debt, car loan debt, student loans. That is a huge number,” Beades said. "They are not telling the truth about the statistics. "

Beades added that these are people who are “being wiped out on a daily basis in Ireland by bankers with no regard whatsoever for the people involved. They seemed to be quite content to sell on these properties to foreign hedge funds.”

 Invoking the spirit of Charles Stewart Parnell’s famous speech  (" When a man takes a farm from which another has been evicted you must shun him…”), Beades said he is the chairman of a new Land League organisation. “We are all coming together because we realise we have to make stand, not only with allsops but with all other auctioneers and banks as well. The country is being sold out,” he stormed," being sold down the river..."

Make that Banking Very Bad.

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