Tempus Fugit Posted October 9, 2008 Share Posted October 9, 2008 how do you become an accountant quick ?, looks like that's where the money is to be made ! Link to comment Share on other sites More sharing options...
When Skies Are Grey Posted October 9, 2008 Share Posted October 9, 2008 Tynwald sitting now...live stream via Manx Radio site if you are interested Link to comment Share on other sites More sharing options...
mouse30 Posted October 9, 2008 Share Posted October 9, 2008 I think that the Manx Government have been somewhat naive to think that the IOM could avoid the implications of a global credit crunch. It stands to reason that the IOM would be hit hard when so many people are employed in the finance sector Link to comment Share on other sites More sharing options...
bluemonday Posted October 9, 2008 Share Posted October 9, 2008 I've been listening since 10:30. My will to live is diminishing rapidly. Link to comment Share on other sites More sharing options...
ai_Droid Posted October 9, 2008 Share Posted October 9, 2008 I've been listening since 10:30.My will to live is diminishing rapidly. Rabbits, headlights. Link to comment Share on other sites More sharing options...
Mutley Posted October 9, 2008 Share Posted October 9, 2008 By my very rough estimates - if the current levy is £250k (max) and there are about 70 registered banks (number from a different thread - so probably wrong) then provided all 70 pay the maximum levy it will take at least 28 years to cover the £500 million in deposits. Even if the figures are not 100% it just goes to show that the scheme is next to useless. Link to comment Share on other sites More sharing options...
GD4ELI Posted October 9, 2008 Share Posted October 9, 2008 I've been listening since 10:30.My will to live is diminishing rapidly. I'm holding out here - but it is difficult to not throw myself off the balcony. We need some storm troopers on the Island - and quick! Link to comment Share on other sites More sharing options...
xbones Posted October 9, 2008 Share Posted October 9, 2008 KSF staff are actually in work today waiting to hear what's going to happen to them. Needless to say they seem worried about just being dumped out of a job with mortgages, loans and general bills to pay. Link to comment Share on other sites More sharing options...
ai_Droid Posted October 9, 2008 Share Posted October 9, 2008 By my very rough estimates - if the current levy is £250k (max) and there are about 70 registered banks (number from a different thread - so probably wrong) then provided all 70 pay the maximum levy it will take at least 28 years to cover the £500 million in deposits. Even if the figures are not 100% it just goes to show that the scheme is next to useless. Don't forget, if you're talking about the old scheme, the limit is 75% of £20k. There's (now) 40 banks as far as I can tell: http://www.fsc.gov.im/licence/search.aspx?selection=Banks Link to comment Share on other sites More sharing options...
When Skies Are Grey Posted October 9, 2008 Share Posted October 9, 2008 They certainly dont seem to inspire confidence...I fear that most of this is above their heads. Although do love some of them banging about how "they told you so" many months back...yeah right. A bit worrying that the scheme seems to exclude corporate bodies and trusts.....if I have heard it correctly. Link to comment Share on other sites More sharing options...
Mutley Posted October 9, 2008 Share Posted October 9, 2008 Don't forget, if you're talking about the old scheme, the limit is 75% of £20k. There's (now) 40 banks as far as I can tell: http://www.fsc.gov.im/licence/search.aspx?selection=Banks If it's only 40 banks then that bumps it up to 50 years. Link to comment Share on other sites More sharing options...
Stavros Posted October 9, 2008 Share Posted October 9, 2008 I really should read these things properly first. I've just been into KFC and told them how sorry I was to see them all out of a job. My bad. Stav. Link to comment Share on other sites More sharing options...
GD4ELI Posted October 9, 2008 Share Posted October 9, 2008 They certainly dont seem to inspire confidence...I fear that most of this is above their heads. Although do love some of them banging about how "they told you so" many months back...yeah right. A bit worrying that the scheme seems to exclude corporate bodies and trusts.....if I have heard it correctly. I think they understand, but I don't belive the Island can compensate for all the money that has been lost. This is waffle - the end results will be lots of money lost and the beginning of the decline in the Island's banking sector. Think I'll buy a fishing boat. Link to comment Share on other sites More sharing options...
ai_Droid Posted October 9, 2008 Share Posted October 9, 2008 A bit worrying that the scheme seems to exclude corporate bodies and trusts.....if I have heard it correctly. Especially as the old scheme did cover them, albeit only for 15k. Link to comment Share on other sites More sharing options...
When Skies Are Grey Posted October 9, 2008 Share Posted October 9, 2008 I dont think its just the Island's banking sector that are to be effected...this isnt an IOM problem. The effects are going to be felt worldwide....hopefully the end result will be a cleaner banking system, based on transparency and liquidity. Sadly though there will be a lot more pain felt before we get to the end of this......on reflection though basing an economy on a housing market that was always over boiling was always going to end in disaster. Link to comment Share on other sites More sharing options...
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