Someone said :
i disagree the banks were lending irresponsibly. In America there are class actions being taken against the bank for such irresponsible lending so why not here. What happened to 2 and half time your income. It went out the window the minute the banks could sell the mortgage as a derivitive.
So up there swiss rolls The poor greedy banks.
Class action suits are not allowed under Irish law.
In the States the mortgage is tied to the property not the person. If you give the keys back youâ€™re free of the debt. That's why their banks are in so much trouble. In Ireland the debt is tied to the person not the property, so if you walk away you still lose the house, but they'll find you, extract their vengeance and ruin your life.
That pilot was an idiot. The banks shouldn't have lent him the money, but what he did was gamble. His complaints are like those of someone complaining they didn't win at roulette - you take the gamble and live with the consequences. He wouldnâ€™t be complaining about irresponsible lending if he made a mint now would he?