TWO ITEMS caught my attention in Ireland today and both concern money-sucking measures the banks are taking to restore balance sheets on the heels of aggressive actions. George Lee gave 15 minutes to heavy-handed receiverships where jackboots and CSI-style SUVs arrive at a premises to cart away as much as can be inventoried. There is no fair standard of practise when the Receiver SWAT team bangs on the door. It is traumatic but not unethical because there is no regulation. In fact, it is an emerging Irish industry that engages security specialists, business bankers, solicitors and accountants. If you live in an upmarket Irish housing estate or you're a member of a fine golf club, you are not far from someone affected by the Receivership Industry.
The second item today concerns actions Irish banks are taking to have personal judgments entered against delinquent mortgage holders.
Next year, when the official record of suicides is discussed, I hope the national broadcaster brings the head of the Bank of Ireland to the table because there will certainly be sad stories of 50-somethings giving up and driving off the pier.
Image is a quick snap taken of Derhaile McDonald's item in the Independent. Post sent mail2blog by my Nokia E7 via O2 3G Typepad service from inside a McDonald's restaurant that needs retention approval.
