A new group has formed in Ireland called New Beginning and are proposingthat struggling mortgage holders join together in a national movement to mount test cases which will establish whether lending institutions had a duty of care to borrowers and if this duty was breached by excessive lending.

As reported in the Irish Independent

Ross Maguire, a co-founder of New Beginning, proposes a “Movement of Mortgage Holders” to harness the power of hundreds of thousands of those in debt to financial institutions, which he accused of pursuing “every ounce of their pound of flesh”.

Mr Maguire’s call to arms against banks coincides with new figures which show that the numbers of homeowners in arrears with mortgage payments continues to rise.

“Nothing or no-one has ever commanded such power in this State,” he added, “and nothing has ever treated our people and institutions of State with such contempt. Not even the Catholic Church in its heyday had such control.”

The Government had shown itself “unwilling or unable to take on the financial institutions. The only real option is for people to come together,” he said.

“The very existence of such a national movement would have re-balanced the relationship. The banks could not continue their plan of divide and conquer, dressed up as the ‘case by case’ approach.

“They would be held to account — not by some regulator or ombudsman or impotent minister, but by the borrowers themselves.”

He continued: “We need to raise our heads and look to the next generation; to come together and claim what is ours. We need to find the courage in ourselves to do more than recognise unfairness. We need to take a stand.”

Dear God, it gets even better, according to the Guardian, the Real IRA are getting involved against bankers in Northern Ireland.

Now he and New Beginning are emerging as lightning rods for the anger of an entire nation towards the banks that they believe helped bust Ireland. Other more sinister forces have tried to tap into the widespread hostility towards the banking system. The Real IRA recently confirmed that they had bombed three banks in Northern Ireland in response to complaints within the nationalist community about threats to re-possess homes. The terrorist group has warned of further attacks on banks and bankers. Maguire and his group, however, offer a legal, non-violent but direct action alternative to challenge bankers’ power.

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