Irish Moral Hazard Organisation (IMHO)


It’s a sad day for family life in Ireland that there’s nobody he could trust to be the winner on his behalf.


Yes, I remember back at the time when the Lottery was launched and a big deal was made of the fact that prizes were to tax free.

That was my first thought too.


Maybe not the right thread to place this but… … er-claims/

Lifeline managers claim dismissal was due to whistleblowing


So what was this alleged financial wrongdoing by David Hall’s company?


tax evasion. There is a description on the Irish Times: … -1.2738889


RTÉ had quite a long segment on it last night.

Judge insisted that they stay on the payroll for now. Will be a drag on the business for quite a while I’d say.


You can take the man out of Fianna Fail but you can’t take Fianna Fail out of the man.


Nobody comes out of that story well. Including the Revenue auditors who I thought are supposed to be ruthless.

I wonder what Mr. Hall’s financial backers, the ones who insisted on his return to active involvement in Lifeline last August, thought of his media re-emergence in the Console debacle and its timing in relation to the above matter.


I only buy one newspaper a week these days, the Sunday Business Post, and spend a week working my way through it. So it’s only today that I stumbled across a reference to David Hall in last Sunday’s edition in an article about AIB readying a portfolio of BTL loans for sale to vulture funds.

“The lender is thought to be engaging in early-stage discussions with debtor advocate David Hall, who recently confirmed plans to raise up to €150 million to fund the purchase of mortgages, about the possibility of a loan sale.”

It seemed to suggest Hall was a politically palatable destination for owner occupier mortgages which could not be sold off to vultures in the way BTLs could.

Interesting who will end up getting screwed here; Mr. Hall’s investors because they should have realised they were investing in a ‘social project’ so of course there can’t be any foreclosures, or the AIB mortgage holders who suddenly find that Mr. Hall is no longer an advocate of forbearance when it affects his bottom line?


…or the taxpayers when they realise AIB sold to Hall at less that market value due to political pressure.


Recall: … 3-Dec2014/

New Beginnings passed on details of its customers to a potential business partner. In fairness this was long after Hall had left NB.

But it is suggestive of the business model not unusual in the third sector in Ireland:
-Declare yourself a champion of the needy
-Set up a charity
-Build a client base
-Become a paid facilitator for the state
-Pay yourself tiny salary of course


bleeding parasites Joe … 8.facebook


Daid Hall is not into cycling…I’m shocked!


Presumably there’s no chance that the campaign is being supported by the insurance industry?


And what about dem bleedin pedestrians, walkin all over de paths an’ roads and not payin a cent in insurance or tax?


He’d gone quiet for a while but boy, is he back!

Families who can’t pay mortgage to rent back their homes in new deal
Campaigner’s housing body gets €100m from AIB for scheme … 72747.html

BB takes it apart here (he was on the NT breakfast earlier and wasn’t happy!) … 73432.html

He goes into some more detail on his website here … ib.205228/

Buy it back at 40% of the value after having the arrears written off at the initial stage and being charged a reduced rent.
Also a good point is made about rent arrears. Tax payer will be taking a hit on this too.

Pat Kenny discussed this too after 9am this morning with Chris Donoghue. PK mentioned how this was a not-for-profit scheme and so Hall wouldn’t be making money out of this.
But what about Direct Fees, charges etc? Do they apply to this and even the IMHO when they joined up with AIB and EBS?


I can’t find a source for this quote. Where did you see it?


Apologies, I mixed up the Indo report with his comments in AAM (will edit my post above to make that clear) … ib.205228/



I assume Brendan has pulled the 40% figure out of his hole based on predictions of future price rises? From what I recall he doesn’t have an amazing track record.

Putting aside the fairness aspect, the problem generally with these bulk schemes is unless they’re designed to be ridiculously generous, they tend to be targetted at the average of a cohort, so the winners will take it and the losers won’t. So you then end up with a smaller bunch of even more hard cases.

Why doesn’t David Hall just buy up all of the non-performing mortgages? Then it’s his problem to sort them all out.


Why would Hall risk that when he can get the taxpayer to fund his latest whiz.

As for Burgess, he’s 1 of the few commentators out there who regularly and consistently questions schemes like this. And he regularly raises alarm bells over the non existent level of repossessions which eventually allow leeway for the likes of Hall to come with this 5hit.
You could always ask him about the 40% figure?