KSF Megathread 2

[When Skies Are Grey]

I think the loss of their life savings hastened many depositors to an early grave something that the politicians could have avoided.

 

Wow you are a MD as well as a financial expert now....you are clever arent you.

[MilitantDogOwner]

I think the loss of their life savings hastened many depositors to an early grave something that the politicians could have avoided.

 

Wow you are a MD as well as a financial expert now....you are clever arent you.

 

BU may have a point though. Tesco Value Beans will put any man in an early grave.

[bellyup]

http://www.positiveactiongroup.org/index.php?option=com_content&view=article&id=304:kaupthing-two-years-on&catid=1:latest-news&Itemid=135

[bellyup]

Kaupthing Two years on

 

 

In October 2008 KSFIOM collapsed as a bank, leaving thousand’s of peoples live’s wrecked, and no access to their money. By October 2009, following liquidation of the bank and the eventual triggering of IOM’s depositor compensation scheme, depositors were able to begin to have access to their money. By October 2010, 1000’s of depositors have only received 50% of their money, and have the prospect of waiting until 2017 to find out what they may eventually receive. This situation is best understood by going to www.ksfiomdag.com, and reading any or all of the stories. Whilst reading them, imagine that for one year there is no access to any of these funds to carry out the plans outlined in each of the stories. Also imagine that after a period of 2 years you have access to just 50% of those funds. Remember that many of these people are retired, ill, etc and therefore cannot just ‘return to work’ to cover a situation of zero income, if work in a tightening economic marketplace was even an option. Depositors and bondholders still have a feeling of being abandoned, their funds are inaccessible, they are loosing interest, and they may also have lost due to the weakening of the pound against foreign currencies (up to perhaps 30%).

 

It will be seen from the stories, that these people are not high net worth tax evaders, but hard working individuals who were brought up in a society, and time, when banks truly looked after their customers and it was deemed good to save for your future.For some, this situation with KSFIOM has been truly devastating, the world as they understood it has fallen apart, and will never be rebuilt, the same as their plans for the future. For others they will not have the chance to see any further returns of their deposits.

 

According to the UK Treasury Select Committee report’s conclusions to its inquiry into the crisis, issued in Spring 2009, the IOM government and the UK government should work together in order to resolve the situation surrounding KSFIOM. To this end we have spoken with the recently elected government of the UK (HM Treasury and Min of Justice) to discuss the creation of a loan trust, underwritten by both governments, which would allow depositors to draw down 100% of their deposits rather than wait until 2017 for the final liquidation payout. This would relieve depositors of the considerable uncertainty and hardship that would be endured by their funds being tied up for a further 6 years, without interest.

 

The IOM government have stated that they have done and are doing all they can for depositors of KSFIOM. We would therefore hope and ask that the IOM Treasury under Anne Craine’s leadership take this proposal as a serious opportunity to at last put an end to the hardship and discomfort for many, and that they focus their full consideration on it.

[jimbms]

The only thing that is constant is we don't give a shit, why do you keep bringing this crap up. It's finished, get over, rebuild your life, there are plenty out there who had less than you to start with and who still have less yet seem to have happiness and peace of mind, learn from them, shrouds do not have a pocket for your wallet.

[spook]

The only thing that is constant is we don't give a shit, why do you keep bringing this crap up. It's finished, get over, rebuild your life, there are plenty out there who had less than you to start with and who still have less yet seem to have happiness and peace of mind, learn from them, shrouds do not have a pocket for your wallet.

 

And people wonder why the likes of Murphy are so critical about our island.

 

I suspect that the truth is that we can’t afford to pay the depositors what is rightly theirs, and that we owe then because of the behaviour of our government.

 

Theft comes in various forms. Not paying debts is one such.

[jimbms]

And the church stealing from people is another. The truth with them though is that they do have the money to help end poverty but are to grredy to part with it.

[spook]

And the church stealing from people is another. The truth with them though is that they do have the money to help end poverty but are to grredy to part with it.

 

 

Which church? There are many.

 

But that apart, and even if it is true in the case of some churches, does it make it right that just because some supposedly Christian churches consider the use of money and wealth in the way that they do failure to meet debt obligation such as is blatantly obviously the case here right?

 

Of course not.

 

Theft comes in many forms. Failure to meet a legal obligation is one such no matter if done by an individual or a government.

[jimbms]

All churches all religions are thieving bastards leeching off the misguided

[spook]

All churches all religions are thieving bastards leeching off the misguided

 

 

 

That just goes to show how little you know about Christianity.

 

There can be no doubt that at the very s*tan has done a good job on you thus far in your life.

[jimbms]

All churches all religions are thieving bastards leeching off the misguided

 

 

 

That just goes to show how little you know about Christianity.

 

There can be no doubt that at the very s*tan has done a good job on you thus far in your life.

yep he saved me from the eternal damnation of christ and a boring heaven and has kept me very happy and content, it has also saved me decent amount of money in not being conned into donating to the lying theiving bastards know as the church

[Manxman2000]

Kaupthing Two years on

 

 

In October 2008 KSFIOM collapsed ~ us their full consideration on it.

 

Edited to make your posting a little more interesting and to the point

[bellyup]

The only thing that is constant is we don't give a shit, why do you keep bringing this crap up. It's finished, get over, rebuild your life, there are plenty out there who had less than you to start with and who still have less yet seem to have happiness and peace of mind, learn from them, shrouds do not have a pocket for your wallet.

 

And people wonder why the likes of Murphy are so critical about our island.

 

I suspect that the truth is that we can’t afford to pay the depositors what is rightly theirs, and that we owe then because of the behaviour of our government.

 

Theft comes in various forms. Not paying debts is one such.

 

Quite

 

Actually I had nothing to start with.

Perhaps Jimbms can explain to elderly people how thay can rebuild their lives.

[jimbms]

Certainly, once you explain to other elderly people why the bank is repossing their home after being conned by the bank into a buy share mortgage that allows the bank to do this so as to give profits to the more well off investors. At least the KSF ones got some if not all of it back eventually , to take a high risk you chance paying the cost, thats life, get over it. Any way we was in the middle of shifting this useless thread to one of spooks religious debates, far more interesting talking about the zombie boy jebus instead of greedy savers

[ThankU]

Could the IOM taxpayers be heading for another Bank Bailout, the news from Ireland is that the Banks are in trouble and how many Irish IOM ltd Banks are here