This Advertisement was inserted in The Sunday Independent on 20th May 2007. The amount of Securitised Mortgages that I counted was €37.5bn.This information was mainly gathered from Solrs Websites who helped put the deals together, and were obviously touting for more business. The Central Bank in an era of lax regularity regime was aware of only c. €9.5bn. I guessed that no-one was aware of the devastating effect that the whole building boom was going to have on the Irish Economy. Since the year 2000, I quietly tried to warn our politicians and bankers on the very real live issue that Financial Institutions were handing out ever bigger mortgages to young couples, and the devastating effect that this would have on the Irish birth-rate and the future effects on society. I was reminded of the muted response that I received from the establishment while watching the film “The Outlaw” starring Clint Eastwood over the Christmas 09 period on TV. By the way, I have now counted c.€80bn in securitised mortgages (not counting public or commercial securitisation), but for some reason this figure is continuously held back from the Irish public. The repayments on these deals like a Vampire  is sucking the lifeblood out of the Irish Economy. RETURN TO MAIN PAGE

Adv in the Sunday Independent 20th May 2007