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Anti-Empire

Anti-Empire

offsite link North Korea Increases Aid to Russia, Mos... Tue Nov 19, 2024 12:29 | Marko Marjanovi?

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Human Rights in Ireland
Indymedia Ireland is a volunteer-run non-commercial open publishing website for local and international news, opinion & analysis, press releases and events. Its main objective is to enable the public to participate in reporting and analysis of the news and other important events and aspects of our daily lives and thereby give a voice to people.

offsite link Trump hosts former head of Syrian Al-Qaeda Al-Jolani to the White House Tue Nov 11, 2025 22:01 | imc

offsite link Rip The Chicken Tree - 1800s - 2025 Tue Nov 04, 2025 03:40 | Mark

offsite link Study of 1.7 Million Children: Heart Damage Only Found in Covid-Vaxxed Kids Sat Nov 01, 2025 00:44 | imc

offsite link The Golden Haro Fri Oct 31, 2025 12:39 | Paul Ryan

offsite link Top Scientists Confirm Covid Shots Cause Heart Attacks in Children Sun Oct 05, 2025 21:31 | imc

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Lockdown Skeptics

The Daily Sceptic

offsite link Activists Attack Crown Jewels With Apple Crumble and Custard Sat Dec 06, 2025 17:00 | Toby Young
A new Marxist protest group calling itself Take Back Power ? consisting of public school-educated toffs called Tarquin and Arabella, no doubt ? have thrown custard at the Crown Jewels to, er, fight poverty.
The post Activists Attack Crown Jewels With Apple Crumble and Custard appeared first on The Daily Sceptic.

offsite link Police Arrest Anti-Abortionist at Peaceful Protest Sat Dec 06, 2025 15:00 | Toby Young
A 27 year-old Christian has been arrested for protesting peacefully against abortion in Cambridge. The incident comes after the US warned the UK's arrest of abortion protestors put the countries' "shared values" at risk.
The post Police Arrest Anti-Abortionist at Peaceful Protest appeared first on The Daily Sceptic.

offsite link Is the Imminent Closure of 50 Universities Really Such a Bad Thing? Sat Dec 06, 2025 13:00 | Duke Maskell
The Guardian reports that 50 universities are at risk of imminent closure. But Duke Maskell wonders if this really is the catastrophe the Guardian thinks it is.
The post Is the Imminent Closure of 50 Universities Really Such a Bad Thing? appeared first on The Daily Sceptic.

offsite link Tories Demand Deportation of Anti-Semitic Foreign Students Sat Dec 06, 2025 11:00 | Toby Young
Two senior Tory shadow cabinet ministers have written to the Education Secretary urging her to deport anti-Semitic foreign students who harass and intimidate their Jewish peers.
The post Tories Demand Deportation of Anti-Semitic Foreign Students appeared first on The Daily Sceptic.

offsite link The Global Warming Gravy Train is Coming to a Screeching Halt at Long Last Sat Dec 06, 2025 09:00 | Laurie Wastell
The global warming craze is dying out, says Matt Ridley in the Spectator, as banks, billionaires and politicians bail out of the Net Zero agenda. Good. The climatastrophe narrative has been a terrible mistake.
The post The Global Warming Gravy Train is Coming to a Screeching Halt at Long Last appeared first on The Daily Sceptic.

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Voltaire Network
Voltaire, international edition

offsite link Will intergovernmental institutions withstand the end of the "American Empire"?,... Sat Apr 05, 2025 07:15 | en

offsite link Voltaire, International Newsletter N?127 Sat Apr 05, 2025 06:38 | en

offsite link Disintegration of Western democracy begins in France Sat Apr 05, 2025 06:00 | en

offsite link Voltaire, International Newsletter N?126 Fri Mar 28, 2025 11:39 | en

offsite link The International Conference on Combating Anti-Semitism by Amichai Chikli and Na... Fri Mar 28, 2025 11:31 | en

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Vulture Funds to Swoop After Election

category national | economics and finance | press release author Thursday February 25, 2016 23:04author by pbp - People Before Profit Report this post to the editors

The Sunday Business Post ran a story claiming that vulture funds who bought up the loan books of Irish financial institutions are likely to step up pressure for payment after the general election.

The report in the Sunday Business Post is a terrible warning of what is to come. Far from years where we enjoy a new ‘fiscal space’ there is more economic turmoil ahead.

US vulture funds were encouraged to come into this country to buy up debt at incredibly low prices. The debts of both mortgage holders and small business enterprises became another opportunity for profit making.
vultures_funds.jpg


A Freedom of Information Act request showed that government officials wrote to companies like Apollo, Lone Star and Kennedy Wilson inviting them to buy up distressed loans. Apollo even hired the former chief executive of Bank of Ireland, Brian Goggin, as its adviser.

The vulture funds operate on a three year-30% rule where they hold distressed assets for about three years and aim at getting a 30% return on their purchase.

The funds which bought Irish loans at a fraction of their value are now putting a squeeze on debtors to pay back the full price of their loan. The Sunday Business Post reports that Goldman Sachs and Cerberus, the company involved in allegations of bribery in the North, are ‘planning to heighten pressure on Irish borrowers’.

Many small businesses and owners of rental property will not be able to pay up. Their new owners will then foreclose on them, enabling others to buy them up at a fraction of the original price.

The result will be social dislocation – not just for the debtors but for the wider society. The tenants of buy-to-let small landlords could find themselves on the street as vulture funds squeeze their owners for a higher return and full payment on loans.

The state should step in to avert this situation. Banks should be retained in public ownership and a left-wing government should repudiate deals done with the vulture funds.

When it comes to a choice between saving society and protecting the greed of the few, the choice should be obvious.

Related Link: http://www.peoplebeforeprofit.ie/2016/02/vulture-funds-to-swoop-after-election/
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