oakley Posted October 15, 2009 Share Posted October 15, 2009 Can you provide any sources to back this up? This document, dated 3rd October indicates that the FSA had grave concerns re the ongoing viability of KSF UK. The placement of the stated conditions did serve to give some protection to the interests of depositors in the UK, but it would appear that this was at the expense of IOM depositors. The FSC allowed) KSF IOM to place a substantial proportion of its financial assets in KSF UK without any guarantee of safety/full return and it is unlikely that the FSA were not aware of this situation. Why did the FSA not warn the FSC of the action they were preparing to instigate, particularly when the close relationship between the two is a well known fact. The FSA plan must have been in-place some-time before the date of the document and hence quite a time before the demise of KSF IOM on the 8th October. FSA_Notice_Friday_3_October_2008_2.pdf Link to comment Share on other sites More sharing options...
P.K. Posted October 15, 2009 Share Posted October 15, 2009 From my Saturday Grauniad: "Icelandic bank saga remains unresolved" The full story here puts some real people and thus some real perspective to the debacle - just to make a welcome change... Link to comment Share on other sites More sharing options...
Stu Peters Posted October 15, 2009 Share Posted October 15, 2009 Thing I still haven't grasped...is WHERE is the half a billion quid transferred from KSFIOM to KB (UK) and snatched by the FSA before it could go to Iceland to pay Kerry Catatonic? That £500m hasn't just vanished surely? Someone must have it. Why wasn't it returned to the liquidator of KSFIOM to pay the depositors? Link to comment Share on other sites More sharing options...
triskelion Posted October 15, 2009 Share Posted October 15, 2009 Thing I still haven't grasped...is WHERE is the half a billion quid transferred from KSFIOM to KB (UK) and snatched by the FSA before it could go to Iceland to pay Kerry Catatonic? That £500m hasn't just vanished surely? Someone must have it. Why wasn't it returned to the liquidator of KSFIOM to pay the depositors? Its locked up in the KSFUK liquidation - which as I understand is going rather slowly. I think KSFIOM is a creditor of KSFUK as things stand? Link to comment Share on other sites More sharing options...
Albert Tatlock Posted October 15, 2009 Share Posted October 15, 2009 Thing I still haven't grasped...is WHERE is the half a billion quid transferred from KSFIOM to KB (UK) and snatched by the FSA before it could go to Iceland to pay Kerry Catatonic? That £500m hasn't just vanished surely? Someone must have it. Why wasn't it returned to the liquidator of KSFIOM to pay the depositors? Its locked up in the KSFUK liquidation - which as I understand is going rather slowly. I think KSFIOM is a creditor of KSFUK as things stand? Why don't we just print £600 million in manx £1 coins, and secretly send 300 people over to the UK to put it into fruit machines with a 90% pay back (and fag machines) till they come back with £500 million or the equivalent in smokes. Or, easier still - get the manx government to cover every combination in the Euromillions for the next 20 £100 million plus rollovers? Link to comment Share on other sites More sharing options...
TheBloodyNine Posted October 16, 2009 Share Posted October 16, 2009 A possible 76,275,360 combinations at £1.50 each, total cost £114,413,040 per draw. Still a better use of money than the runway extension. Link to comment Share on other sites More sharing options...
pongo Posted October 16, 2009 Share Posted October 16, 2009 Surely this has been posted before - and if so apologies for the repetition. But I did a forum search and I did not find it. The thing is - that Hitler in his bunk film clip meme. Well there is a KSF version: ETA - it turns into a campaign video on behalf of the depositors about half way through. Link to comment Share on other sites More sharing options...
Celt Posted October 16, 2009 Share Posted October 16, 2009 Thing I still haven't grasped...is WHERE is the half a billion quid transferred from KSFIOM to KB (UK) and snatched by the FSA before it could go to Iceland to pay Kerry Catatonic? That £500m hasn't just vanished surely? Someone must have it. Why wasn't it returned to the liquidator of KSFIOM to pay the depositors? Oh Stu, and i thought you were a cynical as me I personally think it's already been spent by the UK to bunk up their totally fucked banking system. You just have to look to where they are penny pinching and grasping monies to see this. The UK is in deep shit and they have to get the dosh as and where they can, imo. Link to comment Share on other sites More sharing options...
Stu Peters Posted October 17, 2009 Share Posted October 17, 2009 Yeah, but they can't just nick half a billion quid and then pretend they never had it. Can they?? Link to comment Share on other sites More sharing options...
P.K. Posted October 17, 2009 Share Posted October 17, 2009 Yeah, but they can't just nick half a billion quid and then pretend they never had it. I thought the problem was that it was sent to them and is "unsecured" i.e. bottom of the list. But there's so much bs flying around with teflon shoulders as standard issue to avoid all the blamestorming that it's difficult to be sure of anything. In fact the ONLY thing I'm sure of is that many have been shafted and have lost £zillions and blame Tynpotwald for deliberate obfuscation re their rejected compensation "plan". Link to comment Share on other sites More sharing options...
oakley Posted October 19, 2009 Share Posted October 19, 2009 Yeah, but they can't just nick half a billion quid and then pretend they never had it. I thought the problem was that it was sent to them and is "unsecured" i.e. bottom of the list. But there's so much bs flying around with teflon shoulders as standard issue to avoid all the blamestorming that it's difficult to be sure of anything. In fact the ONLY thing I'm sure of is that many have been shafted and have lost £zillions and blame Tynpotwald for deliberate obfuscation re their rejected compensation "plan". This was reported in the Irish Times this morning. - http://www.irishtimes.com/newspaper/financ...4256972602.html What have the UK done re their obligation to represent the IOM? Link to comment Share on other sites More sharing options...
Albert Tatlock Posted October 19, 2009 Share Posted October 19, 2009 What have the UK done re their obligation to represent the IOM? Suddenly remembered where we are again, and shafted us for VAT. If they do ever give any money back, it'll be like a Post Office robbery, followed by the robbers depositing the money in their Post Office account at the same Post Office the following week. Link to comment Share on other sites More sharing options...
oakley Posted October 22, 2009 Share Posted October 22, 2009 Manx depositors in Kaupthing will not now have to pay tax on the interest that they haven't received. http://www.gov.im/lib/docs/treasury/income...terestfinal.pdf Link to comment Share on other sites More sharing options...
oakley Posted October 23, 2009 Share Posted October 23, 2009 55 weeks after bank crash depositors still waiting. http://www.iomtoday.co.im/news/Bank-crash-...ting.5748605.jp Link to comment Share on other sites More sharing options...
bellyup Posted October 27, 2009 Share Posted October 27, 2009 Either he has gotten his money in which case he couldn't give a monkey about anyone else. Or... He has sold his computer to get by. Wrong on both counts Link to comment Share on other sites More sharing options...
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