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The Saker
A bird's eye view of the vineyard

offsite link Alternative Copy of thesaker.is site is available Thu May 25, 2023 14:38 | Ice-Saker-V6bKu3nz
Alternative site: https://thesaker.si/saker-a... Site was created using the downloads provided Regards Herb

offsite link The Saker blog is now frozen Tue Feb 28, 2023 23:55 | The Saker
Dear friends As I have previously announced, we are now “freezing” the blog.? We are also making archives of the blog available for free download in various formats (see below).?

offsite link What do you make of the Russia and China Partnership? Tue Feb 28, 2023 16:26 | The Saker
by Mr. Allen for the Saker blog Over the last few years, we hear leaders from both Russia and China pronouncing that they have formed a relationship where there are

offsite link Moveable Feast Cafe 2023/02/27 ? Open Thread Mon Feb 27, 2023 19:00 | cafe-uploader
2023/02/27 19:00:02Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link The stage is set for Hybrid World War III Mon Feb 27, 2023 15:50 | The Saker
Pepe Escobar for the Saker blog A powerful feeling rhythms your skin and drums up your soul as you?re immersed in a long walk under persistent snow flurries, pinpointed by

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Public Inquiry
Interested in maladministration. Estd. 2005

offsite link RTEs Sarah McInerney ? Fianna Fail?supporter? Anthony

offsite link Joe Duffy is dishonest and untrustworthy Anthony

offsite link Robert Watt complaint: Time for decision by SIPO Anthony

offsite link RTE in breach of its own editorial principles Anthony

offsite link Waiting for SIPO Anthony

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Human Rights in Ireland
Promoting Human Rights in Ireland

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Lockdown Skeptics

The Daily Sceptic

offsite link News Round-Up Sun Apr 20, 2025 00:02 | Will Jones
A summary of the most interesting stories in the past 24 hours that challenge the prevailing orthodoxy about the ?climate emergency?, public health ?crises? and the supposed moral defects of Western civilisation.
The post News Round-Up appeared first on The Daily Sceptic.

offsite link Rapists Can No Longer Claim to be Women Sat Apr 19, 2025 17:00 | Will Jones
Rapists will no longer be able to identify as women following?the landmark Supreme Court transgender ruling, with police forces now expected to begin recording criminals' biological sex rather than preferred gender.
The post Rapists Can No Longer Claim to be Women appeared first on The Daily Sceptic.

offsite link The Persecution of Nigeria?s Christians by Muslims is Medieval in its Horror Sat Apr 19, 2025 15:00 | Will Jones
The persecution of Nigeria's Christians by Islamising Muslims is medieval in its horror, says Tom Goodenough. "Villages are surrounded in the dead of night by bandits who rape and kill the inhabitants. No one is spared."
The post The Persecution of Nigeria’s Christians by Muslims is Medieval in its Horror appeared first on The Daily Sceptic.

offsite link Britain?s Biggest Bank Pledges ?Solidarity? With Trans Staff Sat Apr 19, 2025 13:00 | Will Jones
Britain?s biggest bank, Lloyds, has pledged "solidarity" with transgender staff after the?Supreme Court ruled that trans women are not legally women under discrimination law.
The post Britain’s Biggest Bank Pledges “Solidarity” With Trans Staff appeared first on The Daily Sceptic.

offsite link ?Great Replacement? Philosopher to Fight UK Ban With Help of the Free Speech Union Sat Apr 19, 2025 11:00 | Toby Young
The Free Speech Union is helping Renaud Camus, the French philosopher banned from Britain for his controversial ideas, to appeal the Home Office's travel ban.
The post ?Great Replacement? Philosopher to Fight UK Ban With Help of the Free Speech Union appeared first on The Daily Sceptic.

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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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