Today’s Morning Focus began with discussion of the news that Ulster Bank will sell €1.4 billion worth of distressed mortgages to a vulture fund.
Some advocates for homeowners believe regulators should insist lenders writedown debt rather than selling on loans, saying such sales will inevitably lead to raft of home repossessions. However, this morning Gavin spoke to Brendan Burgess, founder of AskAboutMoney.com, who takes a very different view. He believes that borrowers could benefit from new ownership og their loans and they still have the same legal protections under the new owners.
Ulster Bank commenting on their decision said the following: ‘This difficult decision comes a decade after the financial crisis began and the continued extension of forebearance cannot be maintained.
Then the show heard from Dep Ciarán Cannon, a Fine Gael TD representing Galway East. Canon alongside Social Protection Minister Regina Doherty championed a law which would require drivers to allow one metre when passing cyclists on road. Announced in February the law has since hit a hurdle with the Transport Minister saying there are legal difficulties with the proposal.
Ending the show’s first hour we had Clare hurling legend from St. Joseph’s Doora-Barefield, Jamsie O’Connor on the air. O’Connor discussed this year’s Jubilee team that will represent the hurling heroes of the ’90s including moments like Clare winning two All-Irelands. A group of senior GAA Correspondents have selected Brian Lohan of Wolfe Tones at full-back, with Seánie McMahon of St Joseph’s Doora-Barefield at centre-back, while his club teammate Jamsie O’Connor is among the half-forwards.
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Moving into the second hour it was time for our weekly Friday Panel. This week’s panel included Martin McMahon – the Clare County Chair of ICMSA, Patricia McCarthy – former Mayor of Clare and Dermot Hayes – Community Activist. They discussed the hard hitting questions facing Clare today including: Following the IBAL survey, is enough being done to protect Clare’s coasts from litter? Can our rural post office network be saved? How should the issue of clerical sexual abuse be addressed during the Pope’s visit to Ireland? Do we need a Presidential election or should Michael D Higgins get a second term unopposed?
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Finally we learnt about an upcoming show on this Wednesday (August 22nd) in the Royal Spa in Lisdoonvarna at 3pm and 8pm. The multi-stage cultural show organized by the community of Lisdoonvarna in collaboration with people living in direct provision comes as part of this year’s Heritage Week and its theme of ‘Share A Story, Make A Connection.’ Gavin was joined by Caitríona Davies and Marcella O’Sullivan organisers from Lisdoonvarna and also by Sim a woman currently living in direct provision.
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