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.
Independent journalism every day
With digital access you can read The Business Post whenever, wherever, and however you want.
- Unlimited access to all sections of The Business Post on desktop, tablet and mobile.
- Breaking news, comment and analysis from the best Business Post writers seven days a week.
- Live blogs of major news events
- Videos and podcasts from some of the industry's most respected journalists such as Tom Lyons, Susan Mitchell and Ian Guider
- Access to The Business Post's extensive archive