THE letter from Bryan Latter, ('Rented homes sale protest is justified' - March 12) highlights the scandal surrounding the loss of social housing. But things are even worse.
Genesis Housing Group, the central player, owes £1.2billion, and is paying out in £125,000 per day. This money comes principally from tenants' rents, and explains our appalling standards of service and maintenance.
It also explains why Genesis' Paddington Churches Housing Association sells at auction virtually any flat that comes empty. This is no solution to a problem which arises largely from their borrowing on a bond issue £250m at the rate of six per cent.
Why are they borrowing all this? To add to their current mountain of boxy, little flats which they cannot sell. Its regulator, now the Tenant Services Authority, must urgently set up an inquiry.
PETER RUTHERFORD Independent Federation of Genesis Residents