Relying on the kindness of vultures

Relying on the kindness of vultures
See Post Plus, pages 1-3

Morally it is wrong to outsource your problems. The human damage the vultures will cause is the direct consequence of a series of policy decisions. Some homes do need to be foreclosed upon, others worked out. The domestic policy system could do this, but has decided it won’t. This is why policy matters

On November 8, 2010, UCD’s Professor Morgan Kelly wrote in the Irish Times: “The gathering mortgage crisis puts Ireland on the cusp of a social conflict on the scale of the Land War, but with one crucial difference. Whereas the Land War faced tenant farmers against a relative handful of mostly foreign landlords, the looming Mortgage War will pit recent house buyers against the majority of families who feel they worked hard and made sacrifices to pay off their mortgages, or else decided not to buy during the bubble, and who think those with mortgages should be made to pay them off. Any relief to struggling mortgage-holders will come not out of bank profits – there is no longer any such thing – but from the pockets of other taxpayers.”

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