Brendan Burgess is a man who RTÉ roll out at the slightest talk of economic decent. Most recently he was wheeled out by RTÉ to offer an alternative point of view to that of Seamus Sherlock, who is currently attempting to save his house from repossession.
Here is a video of Brendan Burgess advising people around the time of the bailout, that the low-priced shares of the Irish banks were NOT a sign of trouble in the pipeline (which we of course now know they most certainly were a sign of trouble), but that in fact we would look back at that point in time in years to come with a deep sense of regret for not “filling our boots” with shares, as they would increase exponentially in value.
The Sound Advise Of Brendan Burgess:
Our own favourite part would undoubtedly have to be at the very end when the presenter turns to Brendan Burgess and says “Well on your own head be it!”.
The point to take away from this is of course that for a so-called expert, Brendan Burgess has been wrong time and time again. Go to YouTube, enter “Brendan Burgess” into the search engine, and watch a few more videos. We’ll be willing to bet that you can’t make it to the end and still find him a credible source of financial information from before, during, and after the boom!
If you’d like an alternative view-point about Brendan Burgess, with a credibility worthy of Brendan Burgess then check out his personal site.
Few realise that it was in fact People For Economic Justice who uncovered the full list of bondholders of the now defunct Anglo Irish Bank.
As we are all aware, Fine Gael ran a very successful campaign during the 2011 election. This campaign ran on a platform that marshaled around one convincing and powerful phrase: “Not one more cent!”. This promise was broken in record time upon Fine Gael and Labour taking office, when the Government stated that the repayment of the bondholders was paramount to securing funding from the so-called Troika (meaning Threesome in Russian) of The European Central Bank, The European Union, and The International Monetary Fund.
This out-and-out lie was proven false almost immediately. There were NO provisions what-so-ever in Ireland’s bailout deal, which sets the requirement of the repayment of bondholders. In addition to this revelation, Enda Kenny and his cabinet stated on no uncertain terms, on more than one occasion, that not only were they planning on repaying 36 billion of the Irish taxpayers money to these bondholders, but that they did not even know who these bondholders were!
Without further ado, let People For Economic Justice clear up any confusion the Government may have about who the bondholders are.
This is the original appearance of Ben Gilroy of People For Economic Justice in the national press. Ben was interviewed by The Morning Show on 15th November 2011. Watch the video attached for Ben Gilroy’s story.
Ben Gilroy’s Story
In the video Ben Gilroy details his experiences when attempting to renegotiate the debt, instead of facing the possibility of a Sheriff arriving on his doorstep to take away his family home. He was told in 2007 by his Mortgage Broker that while Start Mortgages were a little on the expensive side (€2800 a month), the broker would get him away from them and into another mortgage within six months. This never happened due to the infamous bank bailout. After a year or two of this, Ben found he was not even able to contact his Broker. After a further year, Ben simply ran out of money and was unable to continue to pay his interest only mortgage.
Over the course of the interview Ben makes it clear that he wants nothing from the state in terms of benefits etc, and simple wants to represent people in the same situation. He points that it took 8 hours to bail out these banks, and yet no one seems to be fighting to bail out the banks. He points out that he approached Start Mortgage if they would give him a smaller, more affordable loan, on a smaller house. They said no. He asked them, since their evaluator was the one that grossly overvalued the house, would they take half the hit on the negative equity. They said no.
All over the country there are families on ever road facing the same problems Ben Gilroy and the rest of People For Economic Justice. They are too proud or too ashamed to admit that they are in trouble, and most importantly, they don’t realise that in all likelihood, so are many other people in their neighbourhood.
The website mentioned in the video is no longer the name or homepage of this organization.