I’ve been pointed to this.
The group is expected to consist of Irish Banking Federation boss Pat Farrell, consumer advocate and founder of the askaboutmoney website, Brendan Burgess; and Paul Joyce of the Free Legal Aid Centres (FLAC).
If I had any power in Ireland – and I do not – I would rise up and scream against the inclusion of Brendan Burgess. And here’s why. I used to contribute to AskAboutMoney until it became clear that the site would not tolerate any discussion of the possibility that property prices might fall as well as rise. You have no idea just how distructive this is, particularly in 2005. I believe I even read posts by Brendan Burgess advocating the use of interest only mortgages in some cases – probably investor related – but interest only all the same.
Property prices can fall. They are currently at a level not seen in many places since about 2004 and in some places since about 2002. And they are still falling. And while they were rising in such a way as to be utterly unsustainable, the main consumer finance website in the country shut down discussion on property prices and how they could bite as well as feed.
Who do I write to to block Brendan Burgess getting involved in trying to help the people he signally failed to help before they got into trouble? I don’t care if he founded askaboutmoney. It didn’t exactly help on the upside.
There’s a discussion about this subject over on thepropertypin.com – please feel free to join and add your thoughts!
P.
Yeah I know about the discussion over there – have seen it.
I’m just back from my holidays though so am trying to keep the rage to within reasonable limits.