Banks play fair in credit crisis? Don't put your HOUSE on it.. State bails out lenders as repossessions soar.

Byline: BY EOIN REYNOLDS

FATCAT bankers are turfing cash-strapped families on to the streets - while still going cap in hand to the taxpayer begging for money.

Labour's Eamon Gilmore has called on the banks to give ordinary people a break but instead the greedy money men are hammering the most vulnerable like never before.

In an impasssioned plea Mr Gilmore said working people who have fallen on hard times should be given a chance.

He added: "Whatever way the banks are sorted out now, there must be a return for the taxpayer and for working people.

"If the taxpayer can go guarantor for the banks then we must have a guarantee for families.

"A guarantee that, for the duration of this recession, no family will lose their home.

"There are many ways it can be done, but the principle is simple.

"If we can bail out the bankers and protect the property developers, then for two years at least, foreclosure and repossession should be off limits.

"The one thing we all fear, even more than losing our job, is losing our home.

"We will not rebuild this economy on a foundation of fear.

"We will rebuild it on trust because from trust, comes hope and from hope comes confidence and confidence is the most powerful economic stimulus of all."

Figures from the High Court show banks took 211 homeowners to the High Court in the three months to September.

In the whole six months prior to that there was a total of 254 cases - a total of 465 cases for the first nine months of this year, compared to 278 for the same period last year.

And around the country circuit and district courts have been inundated with further demands for homeowners to cough up or get out. More than 100 cases have been heard in circuit courts around the country in recent months, with a number resulting in repossession orders.

At the same time banks expect Irish taxpayers to back them to the tune of billions of euro after they squandered the massive sums they made during the Celtic Tiger years.

Ulster Bank and First Active have pledged not to throw anyone out of their homes for the next six months.

However, other banks including Bank of Ireland, ACC Bank and National Irish Bank refused to comment. Permanent TSB also refused to guarantee there would be no repossessions but insisted the vast majority of its mortgages were in good condition.

A spokesman said: "We only take a tiny number of people to court for repossessions.

"It is not something we have to resort to very much in comparison with other banks."

It has also emerged some banks are not willing to pass on the full ECB interest rate cut announced on Thursday.

The 0.75 per cent cut should have knocked more than EUR100 off the monthly cost of the average mortgage.

But some banks are still considering pocketing all the benefit insisting they need it more than homeowners.

We will not rebuild this economy on a foundation of fear but on trust, hope and confidence

EAMON GILMORE