As many as there are, excuses as to why the Permanent TSB are selling off over 18,000 non performing mortgages to vulture funds, none of them really go to fully explaining whether it is a good thing or not. The usual reasons for such an event have been trotted out but they still don't give you a good feeling, whether it is due to the Government stepping in or the European Central Bank exerting some control over the situation it all still doesn't somehow sit right.

These vulture funds are there for no one's health other than therir own, the name of them is good enough to give it all away really and if you were one of the 18,000 mortgage holders you would be sitting a little less comfortably now that the news is out. The only silver lining on this big cloud is that the mortgage holders still have the protection of the Irish courts which is something.