Claims Longford mortgage holders have been 'raped' by overseas funds

Liam Cosgrove

Reporter:

Liam Cosgrove

Email:

liam.cosgrove@longfordleader.ie

Cllr Seamus Butler

Cllr Seamus Butler

Banks have “financially raped” taxpayers by selling off millions of euro worth of mortgages, it was claimed at a recent county council meeting.

Cllr Seamus Butler said the State’s leading financial institutions had caused untold damage to households up and down the country by off-loading distressed loans to foreign funds.


“We have been financially raped by these overseas funds,” he raged.
“The banks have learned nothing. They have put their hands in the pockets of people who can least afford it.


“Nothing can be compensated for the stress, break-ups of marriages, suicides, all things that came with those and not one person has yet been charged.”

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