Saturday 16 December 2017

Funds snapping up people's homes are parasites, not vultures

‘Finance Minister Michael Noonan should remember that Irish people regard family evictions with horror due to our history’. Photo: Douglas O’Connor
‘Finance Minister Michael Noonan should remember that Irish people regard family evictions with horror due to our history’. Photo: Douglas O’Connor
Letters to the Editor

Letters to the Editor

There has been a lot written about so-called vulture funds, global private finance operations that specialise in acquiring the assets underlying distressed loans, including family home mortgages.

Finance Minister Michael Noonan is on record at the Public Accounts Committee as saying, somewhat smugly, that the vulture in nature supplies a useful function, by consuming carrion.

That makes the analogy with the funds his department invited into Ireland imperfect and redundant.

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