Sir, – The Department of Finance informs us that the sell-off of loans by the Permanent Trustee Savings Bank (PTSB) to venture (vulture) capitalists is a matter for the PTSB board, despite the bank being in majority public ownership.
It is to be regretted that the department did not take this view when this institution was mired in debt. It was considered a matter for the taxpayer at that time.
Is this another case of the socialisation of debt, and the privatisation of profit? – Yours, etc,
JOHN NAUGHTON,
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Leopardstown, Dublin 18.