More repossessions will not lead to lower mortgage rates

Jimmy s

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Well done David. Its because of the likes of David that there hasn't been an avalanche of repossessions and anyone who thinks the banks wouldn't do it if they could get away with it are for the birds. By the way only massive profits still no massive relief for svr. Talks of bonus and wages increases and bonus payments a joke.
 

Jimmy s

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More repossessions or lower SVR? Pick one, you can't have both.
The point is more repossessions won't lead to lower svr just extra tax free profits,and higher bonus payments. Some people are two wo rried about others getting a better deal than them instead of been happy with their lot. Don't have banks divde and conquer methods work
 

The Horseman

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That's a ridiculous comment. If repossessions increased other banks might enter the market and encourage competition. New competition won't enter the market if they can't repossess a property where people are not paying the mortgage.
 

Leo

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The point is more repossessions won't lead to lower svr just extra tax free profits,and higher bonus payments. Some people are two wo rried about others getting a better deal than them instead of been happy with their lot. Don't have banks divde and conquer methods work

Much like Hall's arguments, that doesn't make a lot of sense. Are you suggesting there is no correlation between very high consumer protections and extremely low levels of repossessions here on the interest rates being charged?
 

Jimmy s

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Competition among cartels? Do you think the banks have been punished enough for years of stealing? ie tracker scandel.
 

Jimmy s

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Much like Hall's arguments, that doesn't make a lot of sense. Are you suggesting there is no correlation between very high consumer protections and extremely low levels of repossessions here on the interest rates being charged?
Yes already performing banks have now the cheek to mention raises and bonus payments instead of reducing svr. These are now tax free profits which should be used to reduce rates instead of trying to blame the people who are behind of which I'm sure 90% are genuinely less well off
 

cremeegg

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of which I'm sure 90% are genuinely less well off
All public policy should be based supporting those who some anonymous internet poster thinks are "90% are genuinely less well off".

Oh it already is, sorry
 

Jimmy s

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All public policy should be based supporting those who some anonymous internet poster thinks are "90% are genuinely less well off".

Oh it already is, sorry
Why? We’re all shareholders in some of the banks. I have a major issue with the fact that they’re struggling to attract, retain, and motivate talent.
The armed services are struggling with staff due to low wages Bank staff from management up are paid more than enough for what they do if they are not happy get rid
 

The Horseman

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To break a cartel you encourage competition this is basic economics. The more suppliers you have in a market the less power a single or group of suppliers has in controlling the market.

It never ceases to amaze me how so many people don't understand the basic fundamentals of economics.
 

Jimmy s

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All public policy should be based supporting those who some anonymous internet poster thinks are "90% are genuinely less well off".

Oh it already is, sorry
Cremeegg you are the perfect example too worried about what everyone else has and is getting. The ironic think is you are jealous of the poorer
 

Jimmy s

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To break a cartel you encourage competition this is basic economics. The more suppliers you have in a market the less power a single or group of suppliers has in controlling the market.

It never ceases to amaze me how so many people don't understand the basic fundamentals of economics.
At least we are agreed it's a cartel
 

Gordon Gekko

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There are people who earn X by way of salary and Y by way of bonus if they do a really good job and make money for their employer.

In order to attract those people and circumvent the rules, certain banks are simply paying them salaries equal to X plus Y. It’s fine once the salary doesn’t exceed €500,000.

How can that we in the best interests of the shareholder, i.e. us?
 

The Horseman

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You need to pay to attract the best. The taxpayer is the shareholder and the higher the value of a share the better the return for the taxpayer when the shares are sold.

These costs must be paid from income hence the higher interest rates.

We can't have it both ways ie low interest rates, low income and the best staff. You get what you pay for. You have to pay to attract the best.
 

NoRegretsCoyote

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Irish banking has some features of an oligopoly.

There has to be explicit, concious price-fixing for a cartel to exist though.

Irish banking is nor a cartel.
 

Zenith63

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327
Well done David. Its because of the likes of David that there hasn't been an avalanche of repossessions and anyone who thinks the banks wouldn't do it if they could get away with it are for the birds.
I’m curious whether you think it’s OK for people to borrow money, sign a contract to pay it back and then not do so, or if you think there’s another solution other than repossessions to incentivise good behaviour? Ignoring the issue of bonuses and all that stuff.
 

noproblem

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You need to pay to attract the best. The taxpayer is the shareholder and the higher the value of a share the better the return for the taxpayer when the shares are sold.

These costs must be paid from income hence the higher interest rates.

We can't have it both ways ie low interest rates, low income and the best staff. You get what you pay for. You have to pay to attract the best.
Well, we all saw what paying to attract the best got us a few years ago. Some of them in jail, some miraculously escaped it, some have mystery illness's and cat't remember things, etc, etc, etc. As a certain financier said of late, Ireland is the country that just keeps giving.
 

Jimmy s

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I’m curious whether you think it’s OK for people to borrow money, sign a contract to pay it back and then not do so, or if you think there’s another solution other than repossessions to incentivise good behaviour? Ignoring the issue of bonuses and all that stuff.
No I'm not but what's done is done if these people now have no ability to pay they have to be let live. Its within reason to think a lot of these mortgages should not have been given out. Id have no problem with their ownership been revoked but no eviction the mistake is already made. A fair rent or mortgage in relation to their income to but owning a percentage of what they pay for.
 
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