Karl Deeter: What’s price got to do with it?
Before we all vent our spleens at vulture funds, it’s best to consider the practical realities
I suspect that Fianna Fáil TD Michael McGrath knows far more about political shenanigans than loan sales. In his recent Consumer Protection Bill, the request to find out what a loan buyer paid for each specific loan is something that matters only to politicians so that they can score political points. The loan buyers (commonly referred to as “vulture funds”) do what all financial practitioners do: they try to buy low and sell high, a concept that’s easier said than done. Consider the following points.
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