BANK throw elderly couple out on street

An elderly couple were evicted from their home in Dublin, Ireland by Anglo Irish Bank.




Ireland and the Irish public have paid billions and will continue to pay billions to bail out their banks.

Now the banks are sending thugs out to take over homes and start getting a hold of property. And the shameful cops look on to make sure the banks get what they come for.

This is only the start and will probably become a common sight in Ireland over the next few years.

Some idiots have no sympathy because the couple used to be wealthy. They fail to recognise what the banks have been getting away with. The current government had also promised no one would be evicted from their family home. Complete lies.

The elderly couple slept outside on the street beside their home last night.

They previously ran a successful business in the fashionable tourist resort of Sylt in northern Germany selling Irish textiles to German holidaymakers. "The banks absolutely ruined us. We brought millions of deutschmark to this country over 23 years and we invested everything we had -- and they threw us on the road," he said.

www.independent.ie...

How exactly does this work over there?

If this were a scene in the U.S., I simply couldn't feel that much shock or immediate sympathy. Oh, it's a terrible thing for anyone to lose their home...but it takes months and months for that to really happen under the system here. Longer in some cases these days. So with all that notice and living with the ticking clock for months........it's a hard thing to understand someone not having plans for the 'big day'.

Is this a process that happens so much faster under Irish law and the system this works under there? It would be downright horrific if losing one's house could happen as quickly and for as little as it might take to be kicked out of a rented apartment or something.

Errr... My bad for misunderstanding. I read this more carefully and several more stories related to it. Sympathy is for other people but surely not for these two. They fell behind on a 2.2 million mortgage and are "effectively" homeless because their other properties are leased? Are they kidding? lol.. Oh craft me a mini violin to play a few choruses of so sowwy. They're homeless, by the sound of it, because mere mortal accommodations would never do for these two. It's the multi- million dollar pad or protest on the stoop until they just keel over from exposure. What a world...

Oh no didn't you hear it's okay, a bank in America went to court to save a cat, so bank do have morals and ethics. These evil people should of just done what they were told, bad people.....

reply to post by Wrabbit2000


If it happens to a rich man or a poor man does it really matter? the system of mortgage lending and banking world wide is broken period, way to buy into the class war fare though.

Sure they will beable to recover, and more importantly if it can happen to these two "well" off people, imagine whats being done to the poorer of the people being evicted...

Hey socialism is starting to look good when I have 30 empty brand new foreclosed homes with out a prospective buyer in sight in my development, and homeless people wandering the streets of my city and living in tent towns... Wow it almost seems like someone wants this exact situation to explode into some french revolution as an excuse to crack down marshal law or something.

reply to post by benrl

If a couple has not only taken on millions of dollars or Euros in mortgage AND are still the landlords to others while being tossed out of that multi-million dollar home...how can I feel sorry for that? I definitely can't relate that to the idea of some elderly couple being tossed out of their humble flat in London or a walk up in New York.

They sat and watched...waited...and knew the day was coming for the MILLIONS in mortgage they were ignoring to come due..and listen to the logic at the end. They have put so much money into Ireland, no one has the right to do this to them? SO...they do enough business for their own profit and it should also give them the right to screw the banks?

Now that just isn't right and nowhere near the same as folks losing their homes because they are truly without funds to make the bills anymore.

reply to post by Wrabbit2000


I dont know I guess your sympathy for fellow humans is based on their wallets?

Let me give you a scenario very dear to me, My father, He owns two homes, one he rents, one he lives in, his combined mortgages with debt hovers around 1.5 million US.

He made 80k a year, had a pension, Had a 401k, living the american dream, it was awesome.

Oh he had a stroke, and cancer, he can no longer work, On top of that, the houses he owns are now worth half of what he mortgaged on them, Because my father is an honorable man hes just about burned all his resources "paying what he owes"

He didnt even wish to raise the rent on our renters because of their own financial situation, this man I have seen work his whole god damn life to build for his family so his kids could have something is now on the boarder of being destitute.

Worked at a company, did what he was supposed to, made some bad choices but decided to not bail, and burned everything he had saved in the feable attempt to save what he had been told was his right as an american, the best part is this man has paid most of what the original agreed upon price of these propertys in interest and late payments alone.

But your absolutely right, no sympathy there...

Your right too, my fathers watched and waited, trying to hold back the tide of foreclosure, cannibalizing his retirement to try and hold on, so yeah I guess #ty planing on his part, Now he has to rely on his grown children, something hes never wanted to do.

these arent a poor old couple the 71 yearold man is rich and owns a lot of property, he made his money exploiting people, so i dont care what happens to him, where were the TV camersa when a family of 5 were evicted from their rented house becaust the the husband lost his job and the government wouldnt help him pay the rent because they said it was way to high, this family has been living in a hostel for 4 months now, but this old couple will have one of their summer homes to live in, stop feeling sorry for the rich they caused this mess

The banks are the real criminals both here in the US and in Ireland. By leveraging everything and going for broke in the derivatives market they have ruined the value of our homes and our money. Then they have the gall to ask the taxpayers to bail them out.

Even these "moderately rich" people are can go broke very quickly.
We should recognize that we the people are all in this together.
Excepting the .001% who are raping the rest of us.

I'm not 100% sure how it is in Ireland, but in the UK, there is a lengthily court process before you can evict somebody.
If you live beyond your means, you shouldn't get any sympathy. He used to be rich, then after he stopped being rich he should of gone and lived somewhere he could afford. The whole credit crisis emerged because people lived beyond their means and couldn't pay banks back.

Look at it this way. Now the bank is out of pocket and has lost 200k, they are going to have to get that back somewhere, albeit from other customers. Would you be happy paying for somebody to live in a nice house they can't afford? I sure as hell wouldn't. Ok, say there is more than just that couple, a few thousand people who don't pay back their mortgage or other loan. Now the bank goes bust. You have lost your savings, or your tax pays for a bailout. So are you happy risking your savings just because a couple doesn't want to move out of their expensive home. Or your tax money so people can keep living beyond their means and buying things they can't afford?
Don't know about you, but I work for my money and earn every penny I own. I buy things I can afford, I'd rather not risk my hard earned money on people who choose to keep living a lifestyle they can no longer afford.

reply to post by Asktheanimals


exactly, my fathers the example of an upper middle class earner who is now functionally poor, hes waiting on the supposed "aid" programs from BOA to lower his rate, the funny thing is they where dicking him around until I got on the phone, told them I was his grown son who owns a house and would take him in in a heart beat and that I was advising him to bail on everything.

All of a sudden they wanted to talk to him about modification, where as before they where content to bleed him dry and leave him hanging.

reply to post by benrl

The situation you are describing is tragic and IS very much something I would feel bad for learning someone I knew went through. However, the multiple stories linked out from the first page the OP goes to just don't read that way at all for these two.

It wasn't just by reading the OP post I formed my opinion. As my first note might show here..and I deliberately left unchanged for the first part I wrote before reading a few other news stories on these two...I started actually being half way sympathetic. Then I got a better idea of who they were. Err... No.. No sympathy for them. I wonder, how much sympathy do they show their multiple residential tenants when they just don't pay for over 2 years?

You know...I'll bet they'd never let one of their tenants slide for 2 loong years before throwing them out. Not by how the news reads about them. One might even think they got what they deserved...but I wouldn't. I'm just saying, some may. Tenants..for instance.

reply to post by Xertious


Just because someone gets conned by a con man because of poor choices does not absolve the con man of their guilt.

reply to post by benrl


I'm not saying the banks are beyond reproach. It is more their fault for their stupid lax approach to credit.
Bailiffs (the man whose getting them to leave the premises) are sent in as a last action, after legal proceedings have finished.

Why should they be able to live in a nice house they can't afford.
I's love to live in a big expensive house without paying for it, I'm sure most of us will.

You shouldn't get worked up by the anti-bank climate. You're not a sheep are you? You can think for yourself instead of grumbling about banks, a well heard rhetoric that doesn't change anything.
People have been evicted by bailiffs for decades, its nothing new. Landlords use them to evict tenants to leave. If it weren't a bank, but a man who owned the house and was losing money because this couple refused to leave, would the situation be any better?

Originally posted by benrl
reply to post by Asktheanimals

 

exactly, my fathers the example of an upper middle class earner who is now functionally poor, hes waiting on the supposed "aid" programs from BOA to lower his rate, the funny thing is they where dicking him around until I got on the phone, told them I was his grown son who owns a house and would take him in in a heart beat and that I was advising him to bail on everything.

All of a sudden they wanted to talk to him about modification, where as before they where content to bleed him dry and leave him hanging.

Good on ya! Not enough children care enough for their parents to protect them from these fiends. Funny how they change their tone when you throw a monkey wrench in their works.

reply to post by lacrimaererum


I'm tired of seeing these threads. Bitch bitch bitch..

What are you going to do about it?

Nothing.

Originally posted by Rockpuck
reply to post by lacrimaererum

 

I'm tired of seeing these threads. Bitch bitch bitch..

What are you going to do about it?

Nothing.

sorry your tired.

i'm tired of masons.

This kind of stuff could lead to all out war and dictatorships.

reply to post by Asktheanimals

The banks are the real criminals both here in the US and in Ireland. By leveraging everything and going for broke in the derivatives market they have ruined the value of our homes and our money.

Why are you blaiming the banks?
Your retirement mutual fund forced them to dabble in the derivitives market. If they showed only 5% gains when their competitors were showing 25% gains their stock price and CEOs would take the hit.
You would do exactly the same thing to keep your job.

The government caused the entire thing.
It's the government that lowered the requirements to qualify for a loan. They did that to rev up the economy election after election.
A new home owner buys new furniture, tv, auto, mowers etc. It covers the entire retail spectrum. Not to mention new construction of buildings, malls, corporate offices. It's the perfect way to spread the prosperity.

And things like this are why people in the United States are so rabid about keeping their guns.

Things like this are properly done by officers of the law and nobody else. And if such an attempt was made by banks to use hired muscle like this, I can pretty much guarantee you that there'd be a hundred cases of dead bank thugs a day.

reply to post by samkent


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.

That last one is the one that really got the whole thing rolling. The limit of normal sanity is supposed to be 2.5 to 3 times annual income. The banks routinely lent to people that had multiples of 5 and 6 times. People will say that the folks should've known what they could afford. I agree to an extent, but the banks, having financial professionals working for them and all, should have known much better.