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So, in actuality, it is the banks' fault. If there hadn't been the leveraging and financial cooking the books by several different sets, which made the numbers appear very high and, quite naturally, lured people away, then the rest wouldn't have had to follow.
The root of this mess largely rests with banks. In some cases they trumped numbers to keep clients, in other cases the committed outright fraud against investors, in others they lent to people that they should have known better than to lend to.
Originally posted by Irish Matador
THE REAL STORY:
This 71 year old sold a very profitable business in Germany back in 2004 worth millions. He moved back to Ireland and invested in property. He bought a house in one of the most expensive areas of Ireland. He also bought many rental properties. At his age he was given a large mortgage because he had the colleratal.
Things got tough in Ireland BUT this couple:
Have no children or dependants
Have many investment properties all rented out
Were given the reposession order 2 years ago
Have not made a payment in 3 years
Refused to move into 1 of their other properties as they are all rented out!!
This couple are greedy and playing the system. They make a joke of people who have the REAL problems of losing their ONLY house and feed their families.
This video is a set up by the couple to get sympthay and nothing more.
Its the likes of these people who have ruined Ireland. They make my blood boil. So before you dry your tears for them think of people who ARE real victims and not just greedy actors.
Originally posted by Wrabbit2000
Okay, I'm lost and confused here folks. We're all watching a video that, in isolation, is a very touching and even infuriating display of police force for enforcing an eviction. It's ugly and if they were people worthy of a tear from my eye, they would get it.
Please just look a little more at WHO we're shedding a tear for. By having admitted they were heavy players..Millions and millions of Euro's worth of player..in the Irish Real Estate Market and speculation they *ARE* the problem, not the poor victims in need of a solution. Yesterday THEY were the ones ordering this done to tenants who call THESE TWO their landlords. Now the Landlords get bounced out on their own butts for not paying THEIR landlord? Aww... I'd feel sorry if I wasn't watching more money hit the curb than I'll make in a lifetime here.
If George Soros weren't the household name he is today and HIS sorry butt were being throw out as simply a nameless toad among the SUPER wealthy...would we hear reasons to feel sorry for HIM too??
I DO have sympathy and plenty of it for people who are really hurting in these times. Heck, in many ways, I number myself among that side of life right now. I'll save my tears for those who deserve them though. I'll never shed a tear for people who CAUSE so many tears by their OWN actions..then get a dose of their own in the end.
This isn't sad...this is poetic justice I see in the video. Lets enjoy the RARE moment we actually see a 1% type get their comeuppance and I only wish it wasn't someone SO low in that order of things.