Newsbot Posted March 17, 2009 Share Posted March 17, 2009 A scheme to compensate savers in KSF is the best response to the "complex issue", the treasury minister says. Source : http://news.bbc.co.uk/go/rss/-/1/hi/world/...man/7948647.stm Link to comment Share on other sites More sharing options...
bluemonday Posted March 17, 2009 Share Posted March 17, 2009 "Well, he would, wouldn't he?" - Mandy Rice-Davies Link to comment Share on other sites More sharing options...
Slim Posted March 17, 2009 Share Posted March 17, 2009 "Well, he would, wouldn't he?" - Mandy Rice-Davies The language referring to the UK money seems to have changed lately innit. Referring to it as 'ours' and 'trapped'. Does this mean there's some hope of getting it back now? Link to comment Share on other sites More sharing options...
When Skies Are Grey Posted March 17, 2009 Share Posted March 17, 2009 I do think the somewhat overly jovial nature of the vote was not the wisest move.....the world is watching (well listening anyway!!) Link to comment Share on other sites More sharing options...
Albert Tatlock Posted March 17, 2009 Share Posted March 17, 2009 I don't think it will provide much encouragement for the FSA to hurry and pay anything back anytime soon. It's like some kind of a UK 'revenge on tax havens' tax IMO. To me, it's not as clear a picture as some would like to make out. I wonder what's the worst possible hit for the taxpayer out of all this will be (including lost capital/interest, blocks on spending and resultant job losses because of that lack of govt spending etc. etc.) - and if things get really bad, potential tax rises? I might not be a farmer, but I know the smell of manure when I smells it. Link to comment Share on other sites More sharing options...
Manxman2000 Posted March 18, 2009 Share Posted March 18, 2009 I received this e-mail today as many will have done. Bell should how stick two fingers up to the KSF depositors.End_of_IOM.Pdf Link to comment Share on other sites More sharing options...
Slim Posted March 18, 2009 Share Posted March 18, 2009 I received this e-mail today as many will have done. Bell should how stick two fingers up to the KSF depostiors.End_of_IOM.Pdf Isn't it awful that the Isle of Man is the only jurisdiction to host a failed bank recently. Oh wai.... Link to comment Share on other sites More sharing options...
%age Posted March 18, 2009 Share Posted March 18, 2009 I received this e-mail today as many will have done. Bell should how stick two fingers up to the KSF depostiors.End_of_IOM.Pdf I'll stick two fingers up to the blighters. Once the question is answered though: Anyone who doubts the facts given in this document has only to ask a member of the House of Keys –preferably a minister – for a straight, unambiguous answer to the question: “Why did the FSC authorize and arrange the transfer of over half a billion pounds’ worth of KSFIOM’s assets to be deposited with KSF in London – UNSECURED – at the height of friction between the UK and Icelandic governments?” My personal thoughts - totally unqualified and only supposition - is that the Isle of Man officials went "Oh Shit, what do we do here" and those nice big friendly cuddly people in London said "We'll look after you and we'll look after all that money too . . . " Fuckwits I seem to have the word "fuckwit" on my mind these days. What a bastard. Link to comment Share on other sites More sharing options...
Cambon Posted March 18, 2009 Share Posted March 18, 2009 I love anonymous letters, such credibility. Lets see, I have lost 99% of the value of my holding in AIG. Oh well, That is the risk you take. I have lost 80% of the value of my holding in Aviva. Oh well, that is the risk you take. Most of my bank accounts are now basically under uk government control. Oh well, that is the risk you take. I could have been like most other people last year and lost a large portion of my pension. As it happened I gained in the falling market because that was a risk I took. If KSF had had some sort of buy out and every account holder had gained a windfall, would they be complaining? Absolutely not. At the end of the day most will get all their money back eventually, and all will be compensated. The thing is, what ever you do with your money there is an inherent risk and you have to live with it! Link to comment Share on other sites More sharing options...
ermo Posted March 18, 2009 Share Posted March 18, 2009 "If you had placed your life savings in a bank on the Isle of Man and later discovered that the government’s regulatory authority had made a blunder which resulted in the bank’s collapse, would you not consider that the government owed you an obligation to act honourably (spelling mis) and ensure that your savings were immediately returned to you in full?" (from PDF) Frankly I think they're pissing off the wrong people... Anybody else get the feeling there's more to this 'group' of dispossessed persons than they're letting on... are they applying the same pressure UK Gov? Link to comment Share on other sites More sharing options...
Tugger Posted March 18, 2009 Share Posted March 18, 2009 "If you had placed your life savings in a bank on the Isle of Man and later discovered that the government’s regulatory authority had made a blunder which resulted in the bank’s collapse, would you not consider that the government owed you an obligation to act honourably (spelling mis) and ensure that your savings were immediately returned to you in full?" (from PDF) Frankly I think they're pissing off the wrong people... Anybody else get the feeling there's more to this 'group' of dispossessed persons than they're letting on... are they applying the same pressure UK Gov? Yes, they are. But the DAG has an avowed intent to recover 100% of deposits. They won't - the IOM government can't afford it and, in my view, has made a reasonable fist of trying to help them out to the extent it can (remember, the 50K they will get now is not what they signed up to when depositing at KSFIOM; at that point the DCS only paid out 15K max). Frankly they can make as much noise as they like - noone will listen to them. Link to comment Share on other sites More sharing options...
When Skies Are Grey Posted March 20, 2009 Share Posted March 20, 2009 I have just had an e-mail from the ACSP to indixcate that AlixPartners (the Treasury's advisors) are going to be on the Island on 26th March to clarify the issues surrounding the scheme of arrangements. This only seems to be open to clients of ACSP members....surely there is scope for a more public forum for this??? Smoke and mirrors once more....tut tut Link to comment Share on other sites More sharing options...
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