Eoin Burke-KennedyUlster Bank and KBC’s high-profile exit from the Irish market has made our uncompetitive banking system even more uncompetitive.
More than any other institution, they dragged us down a financial wormhole in 2008. And after being bailed out by the taxpayer, they repaid us by illegally overcharging more than 40,000 tracker mortgage holders, a scandal that went on under the nose of the regulator for several years. Part of the reason — and there are several — is the legal system. It has acted as a bulwark against house repossession since the crash, effectively upending the notion of secured lending.
IrishTimes Because of the fffgg cliques
They can’t repossess
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